Starwood Property Trust, Inc. (NYSE:STWD) announced on Late Tuesday that the company is planning to sell 20 million shares of its common stock in an underwritten public offering.
The Company also plans to grant the underwriters a 30-day option to purchase up to an additional 3,000,000 shares of its common stock to cover over-allotments, if any.
Earlier this week, the company had completed $150 million warehouse financing facility with Goldman Sachs Mortgage Company (the “Warehouse Facility”) and a $125.2 million asset based credit agreement with Bank of America, N.A.
The Warehouse Facility matures in December 2012 and will be used to finance the Company’s acquisition or origination of commercial mortgage loans.
Shares of STWD closed 0.52% higher on Tuesday to $21.11.
Starwood Property Trust, Inc. is focused primarily on originating, investing in, financing and managing commercial mortgage loans and other commercial real estate debt investments, commercial mortgage-backed securities (CMBS), and other commercial real estate-related debt investments.
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