Tremont Mortgage Trust (TRMT) IPO Prices at $20

Tremont Mortgage Trust (Nasdaq: TRMT) today announced that it has priced an initial public offering of 2,500,000 common shares of beneficial interest at $20.00 per share. Concurrently with the completion of the initial public offering, TRMT intends to sell 600,000 shares in a private placement to Tremont Realty Advisors LLC at a price per share of $20.00.

The settlement of this offering is expected to occur on September 18, 2017. The underwriters have a 30-day option to purchase up to an additional 375,000 shares to cover overallotments, if any. All the shares are being offered by TRMT. Because Tremont Realty Advisors LLC has agreed to pay all costs of the offering and the concurrent private placement, the net proceeds per share we receive from the offering and the concurrent private placement are expected to equal the price per common share we receive.

A registration statement relating to the offering of the common shares of beneficial interest of TRMT discussed above was declared effective by the Securities and Exchange Commission on September 13, 2017. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, 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.

UBS Investment Bank, Citigroup and RBC Capital Markets are the joint book running managers for the offering. BB&T Capital Markets, FBR Capital Markets & Co., a B. Riley Financial Company, Janney Montgomery Scott and Oppenheimer & Co. are the co-managers for the offering.

You May Also Be Interested In

• Citigroup set to join top banks in Anthropic IPO - Bloomberg
• Citi upgrades O-I Glass to Buy with $9 price target, opens 90-Day upside catalyst watch
• Mayfield Adds Aditya Singh as Partner to Expand AI Infrastructure Investing at Inception