Blackstone Mortgage Trust Prices $225.2 Mln Stock Offering

(RTTNews) - Blackstone Mortgage Trust, Inc. (BXMT) said Wednesday that it has priced an underwritten public offering of 8 million shares of its class A common stock.

The underwriters have been granted a 30-day option by the company to purchase up to an additional 1.2 million shares.

The offering is expected to close on April 7.

Total estimated gross proceeds of the offering are $225.2 million, or about $259.0 million if the underwriters exercise their option to purchase additional shares in full.

The company plans to use the net proceeds from the offering to originate and purchase additional commercial mortgage loans and other target assets and investments consistent with its investment strategies and investment guidelines, and for working capital and other general corporate purposes.