Broadmark Realty Capital Announces $200 Million At-the-Market Equity Offering Program
Broadmark Realty Capital Inc. (NYSE: BRMK) announced the filing of a prospectus supplement with the SEC for an at-the-market equity offering program, which may raise up to $200 million by selling shares of common stock. The proceeds will be utilized for general corporate purposes, particularly in financing the company's lending activities. The shares will be sold through various agents utilizing methods defined under applicable regulations. This initiative supports Broadmark's strategy in commercial real estate financing, focusing on short-term loans secured by real estate.
- The potential to raise up to $200 million enhances the company's financial flexibility.
- Proceeds will support lending activities, crucial for growth in the commercial real estate sector.
- Selling additional shares may dilute existing shareholders' equity.
Broadmark Realty Capital Inc. (NYSE: BRMK) (the “Company”), an internally managed secured real estate finance company, today announced that it has filed a prospectus supplement with the Securities and Exchange Commission (“SEC”) under which it may offer and sell shares of its common stock (the “Shares”) having an aggregate offering price of up to
The Shares will be offered through J.P. Morgan Securities LLC, Barclays Capital Inc., B. Riley Securities, Inc., JMP Securities LLC and Raymond James & Associates, Inc., as sales agents (the “Agents”). The Agents may sell Shares by any method deemed to be an “at-the-market offering” as defined in Rule 415 of the Securities Act of 1933, as amended, including sales by means of ordinary brokers’ transactions on the New York Stock Exchange or sales made to or through a market maker other than on an exchange, in block transactions or by any other method permitted by law, at prices related to the prevailing market prices or at negotiated prices.
The Shares will be offered under the Company's shelf registration statement on Form S-3 (File No.: 333-251075) filed with the SEC, which registration statement is effective. A prospectus supplement and accompanying prospectus describing the terms of the offering have been filed with the SEC, copies of which may be obtained by visiting the SEC’s website at www.sec.gov or from: J.P. Morgan Securities, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, Attention: Prospectus Group or by calling toll free at (866) 803-9204; Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by telephone (888) 603-5847, or by email at Barclaysprospectus@broadridge.com; B. Riley Securities, Inc., Attention: Prospectus Department, 1300 North 17th Street, Suite 1300, Arlington, Virginia 2209, by telephone at (703) 312-9580, or by email at prospectuses@brileyfin.com; JMP Securities LLC, 600 Montgomery Street, Suite 1100, San Francisco, California 94111, Attention: Prospectus Department, by telephone at (415) 835-8985, or by e-mail at sundicate@jmpsecurities.com; or Raymond James & Associates, Inc., Attention: Equity Syndicate, 880 Carillon Parkway, St. Petersburg, FL 33716, by telephone at (800) 248-8862, or by email at prospectus@raymondjames.com.
This press release is for informational purposes only and is not an offer to sell or the solicitation of an offer to buy any Shares of the Company, which is made only by means of a prospectus supplement and related prospectus. There will be no sale of Shares in any jurisdiction in which the offer, solicitation of an offer to buy or sale would be unlawful.
About Broadmark Realty Capital
Broadmark Realty Capital Inc. (NYSE: BRMK) is an internally managed commercial real estate finance company that offers short-term, first deed of trust loans secured by real estate to fund the acquisition, renovation, rehabilitation or development of residential or commercial properties. Broadmark Realty Capital manages and services its loan portfolio across a variety of market conditions and economic cycles.
Forward Looking Statements
Certain statements made herein are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “may”, “should”, “would”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict”, “potential”, “seem”, “seek”, “continue”, “future”, “will”, “expect”, “outlook” or other similar words, phrases or expressions. These statements are based on the current expectations and are not predictions of actual performance. In addition, actual results are subject to other risks and uncertainties that relate more broadly to the Company’s overall business, including those more fully described in the Company’s filings with the SEC. Forward-looking statements are not guarantees of performance, and speak only as of the date made, and the Company undertakes no obligation to update or revise any forward-looking statements except as required by law.
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