Starwood Property Trust Announces Offering Of 25 Mln Shares

(RTTNews) - Starwood Property Trust, Inc. (STWD) said Monday that it is offering 25 million shares of its common stock in an underwritten public offering.

The underwriters will have a 30-day option from the date of the offering to purchase up to an additional 3.75 million shares from the company.

The company said it plans to use the net proceeds received from the offering to originate and purchase additional commercial mortgage loans and other target assets and investments. The company may also use a portion of the net proceeds for other general corporate purposes, including, but not limited to, the payment of liabilities and other working capital needs.