News Column

Blackstone Mortgage Trust Announces Closing of Public Offering of Class A Common Stock and Full Exercise of Option by Underwriters

January 31, 2014

By a News Reporter-Staff News Editor at Real Estate Weekly News -- Blackstone Mortgage Trust, Inc. (NYSE: BXMT) (the "Company") announced the closing of its previously announced underwritten public offering of its class A common stock. A total of 9,775,000 shares of class A common stock was sold, comprised of 8,500,000 shares initially offered and an additional 1,275,000 shares sold pursuant to the underwriters' full exercise of their option to purchase additional shares, in each case at a price to the underwriters of $26.25 per share. Aggregate net proceeds to the Company, after estimated offering expenses, were approximately $256.1 million . The Company intends to use the net proceeds from the offering to originate and purchase additional commercial mortgage loans and other target assets and investments consistent with its investment strategies and investment guidelines, and for working capital and other general corporate purposes. BofA Merrill Lynch, Citigroup , J.P. Morgan and Wells Fargo Securities acted as joint book-running managers for the offering. The offering was made pursuant to the Company's currently effective shelf registration statement filed with the Securities and Exchange Commission . This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Keywords for this news article include: Real Estate, Blackstone Mortgage Trust Inc. . Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2014, NewsRx LLC


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Source: Real Estate Weekly News


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