NEW YORK–(BUSINESS WIRE)–TPG RE Finance Belief, Inc. (NYSE: TRTX) (“TRTX” or the “Firm”) as we speak introduced the pricing of a public providing of seven,000,000 shares of its 6.25% Collection C Cumulative Redeemable Most well-liked Inventory (the “Collection C Most well-liked Inventory”) at a public providing worth of $25.00 per share. TRTX additionally granted the underwriters a 30-day choice to buy as much as an extra 1,050,000 shares of the Collection C Most well-liked Inventory on the public providing worth, much less underwriting reductions and commissions. The Collection C Most well-liked Inventory could have a $25.00 per share liquidation choice. TRTX will obtain gross proceeds of $175,000,000 from the sale of the Collection C Most well-liked Inventory earlier than deducting the underwriting low cost and different estimated providing bills. The providing is anticipated to shut on June 14, 2021, topic to customary closing situations.
TRTX intends to make use of the online proceeds from the providing to partially fund the redemption of the entire excellent shares of the Firm’s Collection B Cumulative Redeemable Most well-liked Inventory.
TRTX intends to file an utility to listing the Collection C Most well-liked Inventory on the New York Inventory Trade below the ticker image “TRTX PRC.”
Raymond James & Associates, Inc. and TPG Capital BD, LLC are appearing as joint book-running managers for the providing.
The Collection C Most well-liked Inventory can be provided below the Firm’s present shelf registration assertion on Type S-3 filed with the Securities and Trade Fee (“SEC”). The providing can be made solely by the use of a prospectus complement and the accompanying prospectus, copies of which can be obtained from Raymond James & Associates, Inc., Attn: Syndicate, 880 Carillon Parkway, St. Petersburg, FL 33716, by phone at +1 (800) 248-8863, or by e mail at firstname.lastname@example.org.
This press launch shall not represent a suggestion to promote or the solicitation of a suggestion to purchase these securities, nor shall there be any sale of those securities in any state or jurisdiction during which such provide, solicitation or sale can be illegal previous to registration or qualification below the securities legal guidelines of any such state or jurisdiction.
About TPG RE Finance Belief, Inc.
TPG RE Finance Belief, Inc. is a business actual property finance firm that originates, acquires, and manages primarily first mortgage loans secured by institutional properties positioned in main and choose secondary markets in america. The Firm is externally managed by TPG RE Finance Belief Administration, L.P., part of TPG Actual Property, which is the true property funding platform of worldwide various asset agency TPG.
This press launch incorporates “forward-looking statements” throughout the that means of Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Trade Act of 1934, as amended. These forward-looking statements are topic to varied dangers and uncertainties, together with, with out limitation, statements referring to the efficiency of the investments of the Firm; the last word geographic unfold, severity and length of pandemics such because the outbreak of novel coronavirus (“COVID-19”), actions which may be taken by governmental authorities to include or tackle the affect of such pandemics, and the potential detrimental impacts of such pandemics on the worldwide financial system and the Firm’s monetary situation and outcomes of operations; the Firm’s skill to originate loans which can be within the pipeline and below analysis by the Firm; financing wants and preparations; the proposed providing of the Collection C Most well-liked Inventory; the anticipated use of the online proceeds from the providing; and the Firm’s expectations regarding market situations for an providing of the Collection C Most well-liked Inventory. Ahead-looking statements are usually identifiable by use of forward-looking terminology similar to “might,” “will,” “ought to,” “potential,” “intend,” “count on,” “endeavor,” “search,” “anticipate,” “estimate,” “consider,” “may,” “venture,” “predict,” “proceed” or different comparable phrases or expressions. Ahead-looking statements are based mostly on sure assumptions, talk about future expectations, describe present or future plans and methods, include projections of outcomes of operations, liquidity and/or monetary situation or state different forward-looking info. The flexibility of TRTX to foretell future occasions or situations or their affect or the precise impact of present or future plans or methods is inherently unsure. Though the Firm believes that such forward-looking statements are based mostly on affordable assumptions, precise outcomes and efficiency sooner or later may differ materially from these set forth in or implied by such forward-looking statements. No assurance might be on condition that the providing mentioned above can be consummated, or that the online proceeds of the providing can be used as indicated. Consummation of the providing and the appliance of the online proceeds of the providing are topic to quite a few attainable occasions, components and situations, lots of that are past the management of the Firm and never all of that are recognized to it, together with, with out limitation, market situations and people described below the heading “Threat Components” within the prospectus complement referring to the providing, within the Firm’s Annual Report on Type 10-Okay for the 12 months ended December 31, 2020 and within the Firm’s Quarterly Report on Type 10-Q for the quarterly interval ended March 31, 2021, which might be accessed on the SEC’s web site at www.sec.gov. All forward-looking statements communicate solely as of the date on which they’re made. You’re cautioned to not place undue reliance on these forward-looking statements, which replicate the Firm’s views solely as of the date of this press launch. Besides as required by regulation, neither the Firm nor another individual assumes duty for the accuracy and completeness of the forward-looking statements showing on this press launch. The Firm doesn’t undertake any obligation to replace any forward-looking statements contained on this press launch on account of new info, future occasions or in any other case.