Safehold prices public offering of 6.5M shares at $21.40, raises ~$145.5M net

Safehold Inc.

Public offering of 6,500,000 shares of common stock at $21.40 per share; underwriters have 30-day option for additional 975,000 shares.
Concurrent private placement of 599,983 shares at same price to affiliates of MSD Partners.
Net proceeds of ~$145.5M from both offerings; intended for general corporate purposes including debt repayment and ground lease investments.
Underwriting agreement with BofA Securities, Goldman Sachs, J.P. Morgan and Morgan Stanley as representatives.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Safehold Inc. entered into Underwriting Agreement with BofA Securities, Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC, as representatives of the several underwriters valued at 6,500,000 shares of the Company’s common stock ... at a public offering price of $21.40 per share (effective 2023-08-07).

Action: entry
Agreement: underwriting
Counterparty: BofA Securities, Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC, as representatives of the several underwriters
Value: 6,500,000 shares of the Company’s common stock ... at a public offering price of $21.40 per share
Effective: 2023-08-07

Exact text from the filing

On August 7, 2023, Safehold Inc. (the “Company”) and Safehold GL Holdings LLC entered into an underwriting agreement (the “Underwriting Agreement”) with BofA Securities, Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC, as representatives of the several underwriters named therein (the “Underwriters”), pursuant to which the Company agreed to sell, and the Underwriters agreed to purchase, subject to the terms and conditions set forth therein, 6,500,000 shares of the Company’s common stock, par value $0.01 per share (“Common Stock”) at a public offering price of $21.40 per share

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198 material agreements filed in the last 30 days. Browse all material agreements →

Safehold Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-089987

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