Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Sun, August 14, 8:05 PM
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Slide #55. Lument Finance Trust, Inc. — Preferred Stock Offering
Lument Finance Trust, Inc. (NYSE:LFT)
Date of Pricing:
Price Per Share:
Preferred Stock Offering Details:
Lument Finance Trust, Inc. (NYSE: LFT) ("LFT" or the "Company") today announced the launch of an underwritten public offering of shares of its Series A Cumulative Redeemable Preferred Stock (the "Series A Preferred Stock") with a $25.00 per share liquidation preference. LFT expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the Series A Preferred Stock. LFT intends to file an application to list the Series A Preferred Stock on the New York Stock Exchange under the ticker symbol "LFTPrA." -updated 4/29- Lument Finance Trust, Inc. (NYSE: LFT) ("LFT" or the "Company") today announced that it priced an underwritten public offering of an aggregate of 2,400,000 shares of its newly designated 7.875% Series A Cumulative Redeemable Preferred Stock (the "Series A Preferred Stock") at a public offering price of $25.00 per share, for net proceeds of approximately $58.1 million, after the underwriting discount but before estimated offering expenses payable by the Company. The offering is expected to close on May 5, 2021, subject to customary closing conditions.
Lument Finance Trust is a real estate investment trust. Co. is focused on investing in, financing and managing a portfolio of commercial real estate (CRE) debt investments. Co. primarily invests in transitional floating rate CRE mortgage loans with an emphasis on middle-market multifamily assets. Co. may also invest in other CRE-related investments including mezzanine loans, preferred equity, commercial mortgage-backed securities, fixed rate loans, construction loans and other CRE debt instruments. Co. is externally managed by its manager, OREC Investment Management, LLC.
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Buy (3.25 out of 4)
(ranked lower than approx. 61% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com