Blackstone Mortgage Trust Prices Public Offering Of 10 Mln Class A Common Stock

(RTTNews) - Blackstone Mortgage Trust Inc. (BXMT) announced the pricing of an underwritten public offering of 10 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 1.50 million shares.

The offering is expected to close on June 5, 2015 and is subject to customary closing conditions. Total estimated gross proceeds of the offering are $296.5 million or approximately $341.0 million if the underwriters exercise their option to purchase additional shares in full.

The company noted that it intends 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.

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