Colony Financial, Inc. (the “Company”) (NYSE:CLNY) today announced it
plans to commence a public offering of 12,000,000 shares of common
stock. The Company also plans to grant to the underwriters an option to
purchase up to an additional 1,800,000 shares.
The Company expects to use a portion of the net proceeds from this
offering to repay amounts outstanding under its revolving credit
facility, and to use the remainder of the net proceeds from this
offering to acquire its target assets in a manner consistent with its
investment strategies and investment guidelines, and for working capital
and general corporate purposes.
BofA Merrill Lynch, Credit Suisse, Deutsche Bank Securities and J.P.
Morgan will act as the joint book-running managers for this offering.
The underwriters may offer the shares at prevailing market prices or
otherwise from time to time through the New York Stock Exchange, in the
over-the-counter market, through negotiated transactions or otherwise.
The offering of the shares will be made under the Company’s
automatically effective shelf registration statement, which was filed
with the Securities and Exchange Commission. The offering will be made
only by means of a prospectus supplement and prospectus, which will be
filed with the Securities and Exchange Commission. A copy of the
prospectus supplement and prospectus related to the offering can be
obtained, when available, by contacting BofA Merrill Lynch at 222
Broadway, New York, NY 10038, Attention: Prospectus Department or by
emailing dg.prospectus_requests@baml.com,
Credit Suisse at One Madison Avenue, New York, NY 10010, Attention:
Prospectus Department, by telephone (toll free) at (800) 221-1037 or by
emailing newyork.prospectus@credit-suisse.com,
Deutsche Bank Securities at Deutsche Bank Securities Inc., Attention:
Prospectus Group, 60 Wall Street, New York, NY 10005, by telephone (toll
free) at (800) 503-4611 or by email at prospectus.cpdg@db.com,
or J.P. Morgan at c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, NY 11717 or by telephone at (866) 803-9204.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be any
offer or sale of any 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.
About Colony Financial, Inc.
Colony Financial, Inc. is a real estate investment and finance company
that is focused on acquiring, originating and managing a diversified
portfolio of real estate-related debt and equity investments at
attractive risk-adjusted returns. Our investment portfolio and target
assets are primarily composed of interests in: (i) real estate and real
estate-related debt, including loans acquired at a discount to par in
the secondary market and new originations; and (ii) real estate equity,
including single family homes held as rental investment properties.
Secondary debt purchases may include performing, sub-performing or
non-performing loans (including loan-to-own strategies). The Company has
elected to be taxed as a real estate investment trust, or REIT, for U.S.
federal income tax purposes.
Forward-Looking Statements
This press release may contain forward-looking statements within the
meaning of the federal securities laws. Forward-looking statements
relate to expectations, beliefs, projections, future plans and
strategies, anticipated events or trends and similar expressions
concerning matters that are not historical facts. In some cases, you can
identify forward-looking statements by the use of forward-looking
terminology such as “may,” “will,” “should,” “expects,” “intends,”
“plans,” “anticipates,” “believes,” “estimates,” “predicts,” or
“potential” or the negative of these words and phrases or similar words
or phrases which are predictions of or indicate future events or trends
and which do not relate solely to historical matters. Forward-looking
statements involve known and unknown risks, uncertainties, assumptions
and contingencies, many of which are beyond the Company’s control, and
may cause actual results to differ significantly from those expressed in
any forward-looking statement.
All forward-looking statements reflect the Company’s good faith beliefs,
assumptions and expectations, but they are not guarantees of future
performance. Furthermore, the Company disclaims any obligation to
publicly update or revise any forward-looking statement to reflect
changes in underlying assumptions or factors, of new information, data
or methods, future events or other changes. For a further discussion of
these and other factors that could cause the Company’s future results to
differ materially from any forward-looking statements, see the section
entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for
the year ended December 31, 2013 filed with the Securities and Exchange
Commission on February 27, 2014, and other risks described in documents
subsequently filed by the Company from time to time with the Securities
and Exchange Commission.
Copyright Business Wire 2014