Starwood Property Trust Plans Offering Of 17.50M Shares Of Its Common Stock In Public Offering
Portfolio Pulse from Benzinga Newsdesk
Starwood Property Trust is planning a public offering of 17.50 million shares of its common stock, with an option for underwriters to purchase an additional 2.625 million shares. The proceeds will be used for commercial mortgage loans, target assets, and possibly repaying debt.
September 03, 2024 | 8:08 pm
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Starwood Property Trust is issuing 17.50 million shares in a public offering, potentially diluting existing shares. Proceeds will fund commercial mortgage loans and possibly repay debt.
The issuance of new shares typically leads to dilution of existing shares, which can negatively impact the stock price in the short term. However, the use of proceeds for growth and debt repayment could be positive in the long term.
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