Blackstone Mortgage Announces Pricing Of Offering Of 8 Mln Class A Common Stock

(RTTNews) - Blackstone Mortgage Trust, Inc. (BXMT) Friday announced the pricing of an underwritten public offering of 8 million shares of its class A common stock. The underwriters have been granted a 30-day option to purchase up to an additional 1.2 million shares.

The offering is expected to close on September 24. Total estimated gross proceeds of the offering are $222.8 million , or around $256.2 million, if the underwriters exercise their option to purchase additional shares in full.

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, and for working capital and other general corporate purposes.

Citigroup, BofA Merrill Lynch, J.P. Morgan, Wells Fargo Securities and Morgan Stanley are acting as joint book-running managers for the offering.