NexPoint REIT Announces Public Offering Of 2M Shares
Will Use Proceeds to Retire Debt And Make Investments
NexPoint Real Estate Finance Inc., based in Dallas, today announced it has commenced an underwritten public offering of 2 million shares of its common stock priced at $21 per share.
The offering is expected to close on or about August 20, 2021, subject to customary closing conditions.
NREF said it granted the underwriters an option to purchase up to an additional 300,000 shares of its common stock in connection with the offering.
The company intends to contribute the net proceeds from the offering to its operating partnership (OP), NexPoint Real Estate Finance Operating Partnership L.P., in exchange for common limited partnership units in the OP.
The OP intends to use the net proceeds from this offering to repay debt outstanding under the company's master repurchase agreements, and to make investments that fit within the company's investment strategy. During the remainder of 2021, the company intends to acquire life-science and self-storage preferred investments and a multifamily commercial mortgage-backed security.
Raymond James, Keefe, Bruyette & Woods, A Stifel Company, and Baird are acting as the book-running managers for the offering.
NREF makes this offering pursuant to a shelf registration statement that was declared effective by the Securities and Exchange Commission on March 31, 2021. This offering will be made solely by means of a prospectus supplement and accompanying prospectus, copies of which may be obtained, when available, by visiting EDGAR on the SEC's website at www.sec.gov, or via email to [email protected]; [email protected], [email protected].
NREF, is a publicly traded real estate investment trust, with its shares listed on the New York Stock Exchange under the symbol "NREF." It is primarily focused on originating, structuring, and investing in first mortgage loans, mezzanine loans, preferred equity, and alternative structured financings in commercial real estate properties, as well as multifamily commercial mortgage-backed securities.
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