Reported Earlier, Starwood Property Trust Prices $345.1M Public Offering Of 17.5M Common Shares
Portfolio Pulse from Benzinga Newsdesk
Starwood Property Trust has announced a public offering of 17.5 million common shares, aiming to raise $345.1 million. The proceeds will be used for originating and purchasing commercial mortgage loans, other investments, and potentially repaying outstanding debts.
September 04, 2024 | 6:39 am
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Starwood Property Trust is conducting a public offering of 17.5 million shares to raise $345.1 million. The funds will be used for commercial mortgage loans, investments, and possibly debt repayment.
The issuance of new shares typically dilutes existing shareholders' equity, which can lead to a short-term decrease in stock price. However, the use of proceeds for growth and debt repayment could be positive in the long term.
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