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Buy (2.75 out of 4)
100th percentile
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Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Saturday, April 20, 12:40 AM
Slide #82. Lument Finance Trust, Inc. — Preferred Stock Offering
Company: |
Lument Finance Trust, Inc. (NYSE:LFT) |
Date announced: |
4/26/2021 |
Shares Offered: |
2,400,000 |
Date of Pricing: |
4/29/2021 |
Price Per Share: |
$25.00 |
Preferred Stock Offering Details: |
Lument Finance Trust, Inc. (NYSE: LFT) ("LFT" or the "Company") today announced the launch of an underwritten public offering of shares of its Series A Cumulative Redeemable Preferred Stock (the "Series A Preferred Stock") with a $25.00 per share liquidation preference. LFT expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the Series A Preferred Stock. LFT intends to file an application to list the Series A Preferred Stock on the New York Stock Exchange under the ticker symbol "LFTPrA." -updated 4/29- Lument Finance Trust, Inc. (NYSE: LFT) ("LFT" or the "Company") today announced that it priced an underwritten public offering of an aggregate of 2,400,000 shares of its newly designated 7.875% Series A Cumulative Redeemable Preferred Stock (the "Series A Preferred Stock") at a public offering price of $25.00 per share, for net proceeds of approximately $58.1 million, after the underwriting discount but before estimated offering expenses payable by the Company. The offering is expected to close on May 5, 2021, subject to customary closing conditions. |
Lument Finance Trust is a real estate investment trust. Co. is focused on investing in, originating, financing and managing a portfolio of commercial real estate (CRE) debt investments. Co. primarily invests or originates in transitional floating rate CRE mortgage loans with an emphasis on middle-market multifamily assets. Co. may also invest in other CRE-related investments including mezzanine loans, preferred equity, commercial mortgage-backed securities, fixed rate loans, construction loans and other CRE debt instruments. Co. is externally managed by its manager, Lument Investment Management. Preferreds: HCFT.PRA, LFT.PRA
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