U.S.-based real estate investment trust Ladder Capital Corp plans to raise $100 million in an underwritten public offering of 5.8 million shares of its class A common stock.
The company expects to use proceeds from the offering to make additional investments, consistent with its investment policy, and for general corporate purposes, including repayment of existing indebtedness.
Ladder Capital has granted underwriters an option to purchase up to an additional 870,000 shares by Ladder Capital.
The shares will be offered from time to time for sale in one or more transactions on the New York Stock Exchange and it is expected to close on or about November 16, 2018, and is subject to customary closing conditions.