KKR Real Estate Finance Trust Inc. Announces Pricing of Public Offering of Common Stock

NEW YORK--(BUSINESS WIRE)--KKR Real Estate Finance Trust Inc. (“KREF”) (NYSE: KREF) today announced the pricing of an underwritten public offering of 5,000,000 shares of its common stock. The underwriters have been granted a 30-day option by KREF to purchase an additional 750,000 shares. Total estimated gross proceeds of the offering are approximately $110.0 million or $126.5 million if the underwriters exercise their option to purchase additional shares in full. The offering is expected to close on November 1, 2021 and is subject to customary closing conditions.

KREF intends to use the net proceeds from the offering to acquire its assets in a manner consistent with its investment strategies and investment guidelines and for general corporate purposes.

Morgan Stanley, Wells Fargo Securities, Goldman Sachs & Co. LLC, Raymond James, Barclays, Citigroup, J.P. Morgan and Keefe, Bruyette & Woods, a Stifel Company are acting as joint book-running managers for the offering. BTIG and JMP Securities are acting as co-managers for the offering.

Registration statements on Form S-3 relating to these securities have been filed with the Securities and Exchange Commission (“SEC”) and have been declared effective. The offering will be made only by means of a prospectus supplement and the accompanying prospectus. Copies of the prospectus supplement and the accompanying prospectus may be obtained from Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014 and Wells Fargo Securities, Attn: Equity Syndicate Department, 30 Hudson Yards, 500 West 33^rd Street – 14^th Floor, New York, NY 10001; or by visiting the SEC’s website at www.sec.gov under KKR Real Estate Finance Trust Inc.’s name.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About KREF

KKR Real Estate Finance Trust Inc. (NYSE:KREF) is a real estate finance company that focuses primarily on originating and acquiring senior loans secured by commercial real estate properties. KREF is externally managed and advised by an affiliate of KKR & Co. Inc.

Forward-Looking Statements

This press release contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “assumptions,” “target,” “guidance,” “outlook,” “plans,” “projection,” “may,” “will,” “would,” “should,” “seeks,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “potential” or “continue” (or the negative or other derivatives of each of these terms) or similar expressions that concern KREF’s operations, strategy, projections or intentions. These “forward-looking” statements include statements relating to, among other things, the proposed issuance and sale of common stock and the expected use of the net proceeds from the offering. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond KREF’s control. These and other important risk factors are discussed under the heading “Risk Factors” in KREF’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, filed with the SEC, as such factors may be updated from time to time in KREF’s other periodic filings with the SEC. Accordingly, actual outcomes or results may differ materially from those indicated in this release. All forward-looking statements in this release speak only as of the date of this release. KREF undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by law.