Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Thursday, April 18, 9:09 PM
Slide #241. Colony NorthStar, Inc. — Preferred Stock Offering
| Company: |
Colony NorthStar, Inc. (CLNS) |
| Date announced: |
9/13/2017 |
| Shares Offered: |
11,000,000 |
| Date of Pricing: |
9/13/2017 |
| Price Per Share: |
$25.00 |
| Preferred Stock Offering Details: |
Colony NorthStar, Inc. (the "Company") (NYSE:CLNS) today announced it has commenced an underwritten public offering of its shares of Series J Cumulative Redeemable Perpetual Preferred Stock ("Series J Preferred Stock") with a liquidation preference of $25.00 per share. Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, RBC Capital Markets, LLC and UBS Securities LLC are acting as joint book-running managers for the offering. Barclays Capital Inc. and Citigroup Global Markets Inc. are acting as co-managers. The Company expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of Series J Preferred Stock initially sold to the public. The Company intends to file an application to list the Series J Preferred Stock on the New York Stock Exchange. -updated 9/13- Colony NorthStar, Inc. (the "Company") (NYSE:CLNS) today announced it has priced 11,000,000 shares of 7.125% Series J Cumulative Redeemable Perpetual Preferred Stock ("Series J Preferred Stock") with a liquidation preference of $25.00 per share. In addition, the Company has granted the underwriters a 30-day option to purchase an additional 1,650,000 shares of the 7.125% Series J Preferred Stock on the same terms and conditions. The offering is expected to close on or about September 22, 2017, subject to customary closing conditions. Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, RBC Capital Markets, LLC and UBS Securities LLC are acting as joint book-running managers for the offering. Barclays Capital Inc. and Citigroup Global Markets Inc. are acting as co-managers. |
NorthStar Asset Management Group is an asset management firm. Co.'s primary business lines are as follows: NorthStar Listed Companies, and Retail Companies, which provides asset management and other services on a fee basis by managing the day-to-day activities of the NorthStar Listed Companies, and Retail Companies; Broker-dealer, which raises capital in the retail market through NorthStar Securities and earned dealer manager fees for selling equity in the Retail Companies; Direct Investments, which invest in strategic partnerships and joint ventures with third-parties. As of Dec 31 2017, Co. had $43.00 billion of assets under management.
Preferreds: CLNS.PRB, CLNS.PRA, CLNS.PRF, CLNS.PRC, CLNS.PRD, CLNS.PRE, CLNS.PRG, CLNS.PRH, CLNS.PRI, CLNS.PRJ
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