Starwood Property announces 25.5M share common stock offering

Starwood Property (STWD) Trust announced that, subject to market and other conditions, it is offering 25.5M shares of its common stock in an underwritten public offering. The company intends to use the net proceeds received from the offering to fund a portion of the purchase price for the company’s recently announced pending acquisition of Fundamental Income Properties. The company may also use a portion of the net proceeds to originate and purchase commercial mortgage loans and other target assets and investments, or for other general corporate purposes, including, but not limited to, the repayment of outstanding indebtedness under the company’s repurchase facilities. BofA Securities and Wells Fargo Securities will serve as joint book-running managers for the offering.