NEW YORK--(EON: Enhanced Online News)--Ladder Capital Corp (NYSE:LADR) (“Ladder” or the “Company”) announced today the closing of an underwritten secondary public offering of shares of the Company’s Class A common stock offered at a price to the public of $13.60 per share. In the offering, the underwriters exercised their option in full to purchase an additional 1,500,000 shares. As a result, an aggregate of 11,500,000 shares of Class A common stock were sold by certain affiliates of Alberta Investment Management Corp., GI Partners, Northgate Capital and TowerBrook Capital Partners (collectively, the “Selling Stockholders”). The Company did not receive any proceeds from the offering. BofA Merrill Lynch, Deutsche Bank Securities and Wells Fargo Securities acted as joint book-running managers and as representatives of the underwriters for the offering. Additional book-running managers were Barclays, Citigroup and J.P. Morgan. FBR, JMP Securities and Keefe, Bruyette & Woods, a Stifel Company, acted as co-managers for the offering.
A shelf registration statement (including prospectus) relating to the shares was filed with the Securities and Exchange Commission (the “SEC”) and declared effective by the SEC. Before you invest, you should read the final prospectus and other documents filed by Ladder with the SEC for more complete information about Ladder and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies of the final prospectus supplement and accompanying prospectus may be obtained from BofA Merrill Lynch, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, Attn: Prospectus Department or via email: email@example.com; Deutsche Bank Securities Inc., Prospectus Group, 60 Wall Street, New York, NY 10005, via telephone: 1-800-503-4611 or via email: firstname.lastname@example.org; or Wells Fargo Securities, LLC, 375 Park Avenue New York, NY 10152, Attention: Equity Syndicate Department, via telephone: 1-800-326-5897 or via email: email@example.com.
The offering of these securities was made only by means of a prospectus supplement and the accompanying prospectus. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction 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.
Ladder is an internally-managed real estate investment trust that is a leader in commercial real estate finance. Ladder originates and invests in a diverse portfolio of commercial real estate and real estate-related assets, focusing on senior secured assets. Ladder’s investment activities include: (i) direct origination of commercial real estate first mortgage loans; (ii) investments in investment grade securities secured by first mortgage loans on commercial real estate; and (iii) investments in net leased and other commercial real estate equity. Founded in 2008, Ladder is run by a highly experienced management team with extensive expertise in all aspects of the commercial real estate industry, including origination, credit, underwriting, structuring, capital markets and asset management. Led by Brian Harris, the Company’s Chief Executive Officer, Ladder is headquartered in New York City and has branches in Los Angeles and Boca Raton.