Great Ajax Corp., a Maryland corporation that intends to qualify and
elect to be taxed as a real estate investment trust for the year ended
December 31, 2014 and that focuses primarily on acquiring, investing in
and managing a portfolio of re-performing and non-performing mortgage
loans secured by single-family residences and, to a lesser extent, of
single-family properties, announced today that it had closed its initial
public offering of 5,000,000 shares of common stock priced at $14.25 per
share. Great Ajax offered 3,750,000 shares of common stock and the
selling stockholders offered 1,250,000 shares of common stock. Certain
of our existing stockholders, including certain affiliates, purchased an
aggregate of 730,000 shares of our common stock in this offering at the
initial public offering price. Great Ajax’s common stock began trading
on New York Stock Exchange under the symbol “AJX” on February 13, 2015.
Great Ajax and the selling stockholders will receive $67.6 million in
the aggregate of net proceeds of the offering. Great Ajax expects to use
its $50.9 million of net proceeds (before estimated offering expenses)
to acquire additional mortgage loans and mortgage-related assets.
FBR Capital Markets & Co. acted as lead book-running manager for the
offering. Sterne, Agee & Leach, Inc. and Nomura Securities
International, Inc. acted as joint book-running managers and Ladenburg
Thalmann & Co. Inc. and MLV & Co. LLC acted as co-managers.
The offering was made only by means of a prospectus. A copy of the
prospectus for the offering may be obtained by contacting FBR Capital
Markets & Co., Prospectus Department, 1300 North 17th Street, Suite
1400, Arlington, Virginia 22209, (703) 312-9726 or Prospectuses@FBR.com.
A registration statement relating to these securities was filed with and
declared effective by the U.S. Securities and Exchange Commission. 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 their registration or qualification under the
securities laws of any such state or jurisdiction.
About Great Ajax Corp.
Great Ajax Corp. is a Maryland corporation that focuses primarily on
acquiring, investing in and managing mortgage loans secured by
single-family residences and, to a lesser extent, single-family
properties themselves. We also invest in loans secured by multi-family
residential and smaller commercial mixed use retail/residential
properties, as well as in the properties directly. We are externally
managed by Thetis Asset Management LLC, a recently formed Aspen
Capital-affiliated entity. Our mortgage loans and other real estate
assets are serviced by Gregory Funding LLC, an Aspen Capital-affiliated
entity. We expect to qualify and elect to be taxed as a real estate
investment trust under the Internal Revenue Code for the year ended
December 31, 2014.
Forward-Looking Statements
This press release contains certain forward-looking statements,
including statements with regard to Great Ajax’s proposed securities
offering. Words such as “believes,” “intends,” “expects,” “projects,”
“anticipates,” and “future” or similar expressions are intended to
identify forward-looking statements. These forward-looking statements
are subject to the inherent uncertainties in predicting future results
and conditions, many of which are beyond the control of Great Ajax,
including, without limitation, the risk factors and other matters set
forth in Great Ajax’s registration statement on Form S-11 filed with the
U.S. Securities and Exchange Commission. Great Ajax undertakes no
obligation to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as may be required by law.
Copyright Business Wire 2015