NorthStar Realty (NRF) Prices Offering of Additional Shares of 8.25% Series B Preferred
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NorthStar Realty Finance Corp. (NYSE: NRF) announced today that it priced an underwritten public offering on July 9, 2012 of an additional 2,800,000 shares of its existing 8.25% Series B Preferred Stock at a public offering price of $22.95 per share. The public offering price includes accrued dividends from and including May 15, 2012 to, but excluding July 16, 2012, the expected closing date of the offering. The Company has granted the underwriters a 30-day option to purchase an additional 420,000 shares of Series B Preferred Stock solely to cover over-allotments.
The Company intends to use the net proceeds of the offering to make investments through its operating partnership relating to its business, to repurchase or pay its liabilities and for general corporate purposes.
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The Company intends to use the net proceeds of the offering to make investments through its operating partnership relating to its business, to repurchase or pay its liabilities and for general corporate purposes.
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