Ladder Capital Corp Completes $259.0 Million Initial Public Offering
NEW YORK--(BUSINESS WIRE)--Ladder Capital Corp (NYSE:LADR) announced today that it has completed an initial public offering of 15,237,500 shares of its Class A common stock at a price to the public of $17.00 per share, including 1,987,500 shares sold in connection with the full exercise of the option to purchase additional shares granted to the underwriters. All of the shares in the offering are being offered by Ladder Capital Corp.
Deutsche Bank Securities, Citigroup, Wells Fargo Securities, BofA Merrill Lynch and J.P. Morgan acted as joint book-running managers of the offering, and FBR, JMP Securities and Keefe, Bruyette & Woods acted as co-managers. The offering of these securities was made only by means of a prospectus. Copies of the final prospectus relating to the offering may be obtained from: Deutsche Bank Securities Inc., Attn.: Prospectus Group, 60 Wall Street, New York, NY 10005-2836, Tel: (800) 503-4611, Email: prospectus.CPDG@db.com; Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Tel: (800) 831-9146; Wells Fargo Securities, LLC, Attention: Equity Syndicate Dept., 375 Park Avenue, New York, NY 10152, Tel: (800) 326-5897, Email: firstname.lastname@example.org; BofA Merrill Lynch, Attention: Prospectus Department, 222 Broadway, New York, NY 10038, Email: email@example.com; or J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attention: Prospectus Department, Tel: (866) 803-9204.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on February 5, 2014. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Ladder is a leading commercial real estate finance company that originates and invests in a diverse portfolio of commercial real estate and real estate-related assets, focusing on senior secured assets. Ladder’s investment activities include: (i) direct origination of mid-market commercial real estate first mortgage loans of $5 million to $100 million; (ii) investments in investment grade securities secured by first mortgage loans on commercial real estate; and (iii) investments in net leased and other commercial real estate. Founded in 2008, Ladder is run by a highly experienced management team with extensive expertise in all aspects of the commercial real estate industry, including origination, credit, underwriting, structuring, capital markets and asset management. Led by Brian Harris, the Company’s Chief Executive Officer, Ladder is headquartered in New York City and has branches in Boca Raton and Los Angeles.
Certain statements in this release may constitute “forward-looking” statements, including with respect to the closing of Ladder Capital Corp’s initial public offering. These statements are based on management’s current opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results. These forward-looking statements are only predictions, not historical fact, and involve certain risks and uncertainties, as well as assumptions. Actual results, levels of activity, performance, achievements and events could differ materially from those stated, anticipated or implied by such forward-looking statements. While Ladder Capital Corp believes that its assumptions are reasonable, it is very difficult to predict the impact of known factors, and, of course, it is impossible to anticipate all factors that could affect actual results. There are a number of risks and uncertainties that could cause actual results to differ materially from forward-looking statements made herein. Such forward-looking statements are made only as of the date of this release. Ladder Capital Corp expressly disclaims any obligation or undertaking to release any updates or revisions to any forward-looking statements contained herein to reflect any change in its expectations with regard thereto or changes in events, conditions, or circumstances on which any such statement is based.