NEW YORK, Aug. 3, 2017 /PRNewswire/
-- Sutherland Asset Management Corporation (NYSE: SLD)
("Sutherland" or the "Company") today announced that it is
commencing an underwritten public offering of $100 million aggregate principal amount of
convertible senior notes due 2023. The Company also plans to grant
to the underwriters a 30‑day option to purchase up to an additional
$15 million aggregate principal
amount of the notes at the public offering price, less the
underwriting discount. The Company intends to use the net proceeds
from this offering to originate or acquire additional mortgage
loans and mortgage-related assets consistent with its investment
strategy and for general corporate purposes. The interest rate,
conversion rate and other terms of the notes will be determined at
the time of pricing the offering.
Keefe, Bruyette & Woods, Inc. and JMP Securities LLC are
serving as joint book-running managers and Compass Point Research
& Trading, LLC as a co-manager for the public offering.
A registration statement relating to these notes has been
declared effective by the Securities and Exchange Commission (the
"SEC"). The offering will be made only by means of a preliminary
prospectus supplement and accompanying prospectus, which have been
filed with the SEC. A copy of the prospectus supplement and
accompanying prospectus may be obtained free of charge at the SEC's
website at www.sec.gov or from the underwriters by contacting:
Keefe, Bruyette & Woods, Inc., 787 Seventh Avenue, Fourth
Floor, New York, NY 10019
(telephone: 800‑966-1559) or email: USCapitalMarkets@kbw.com or JMP
Securities LLC, 600 Montgomery Street, Suite 1100,
San Francisco, CA 94111,
Attention: Syndicate Department, or by calling (415) 835-3959.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the Company's securities,
nor shall there be any sale of the Company's securities in any
state in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of
any such state.
About Sutherland Asset Management Corporation
Sutherland Asset Management Corporation (NYSE: SLD) is a REIT
that originates, acquires, finances, services and manages small
balance commercial ("SBC") loans, U.S. Small Business
Administration loans under its Section 7(a) program, and
residential mortgage loans. The Company originates SBC loans
through its ReadyCap Lending subsidiaries and originates
residential mortgage loans through its GMFS subsidiary. The
Company is externally managed and advised by Waterfall Asset
Management, LLC.
Forward-Looking Statements
This press release contains certain forward-looking
statements. Words such as "believes," "intends," "expects,"
"projects," "anticipates," and "future" or similar expressions are
intended to identify forward-looking statements. These
forward-looking statements are subject to the inherent
uncertainties in predicting future results and conditions, many of
which are beyond the control of the Company, including, without
limitation, the risk factors and other matters set forth in the
prospectus supplement and the accompanying prospectus and the
Company's Annual Report on Form 10‑K for the year ended
December 31, 2016 filed with the SEC and in its other filings
with the SEC. The Company undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
may be required by law.
Contacts:
Sutherland Asset Management Corporation
Thomas E. Capasse
Chief Executive Officer
or
Frederick C. Herbst
Chief Financial Officer
RHerbst@waterfallam.com
212-257-4666
View original
content:http://www.prnewswire.com/news-releases/sutherland-asset-management-corporation-announces-public-offering-of-convertible-notes-300499499.html
SOURCE Sutherland Asset Management Corporation
