NEW
YORK, Aug. 7, 2023 /PRNewswire/ -- Safehold Inc.
(NYSE: SAFE) (the "Company") announced today that it has commenced
an underwritten public offering to sell 6,500,000 shares of its
common stock. The Company intends to grant the underwriters in the
offering a 30-day option to purchase up to an additional 975,000
shares of its common stock.
BofA Securities, Goldman Sachs & Co. LLC, J.P. Morgan and
Morgan Stanley will act as joint book-running managers for the
public offering.
Concurrently with the completion of the public offering,
Safehold is expected to sell, subject to customary closing
conditions, to certain affiliates of MSD Partners, L.P. in a
private placement a number of shares of common stock equal to
approximately 8.5% of the total number of shares of common stock
sold in the offering, subject to a cap of 639,656 shares of common
stock due to current limitations under NYSE rules and
regulations.
The Company intends to use the net proceeds from the public
offering and concurrent private placement for general corporate
purposes, which may include repaying or repurchasing indebtedness
(including amounts outstanding from time to time under the
Company's revolving credit facility), making additional investments
in ground leases, providing for working capital and funding
obligations under existing ground lease commitments.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy shares of common stock, nor shall
there be any sale of these securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction.
The public offering is being made pursuant to an effective shelf
registration statement and a preliminary prospectus supplement and
accompanying prospectus filed by the Company with the Securities
and Exchange Commission ("SEC"). Before you invest, you should read
the preliminary prospectus supplement and accompanying prospectus
and other documents the Company has filed with the SEC for more
complete information about the Company and the public offering. You
may obtain these documents for free by visiting EDGAR on the SEC
website at www.sec.gov. The Company or any underwriter or any
dealer participating in the public offering will arrange to send
you the preliminary prospectus supplement and accompanying
prospectus if you request it by contacting BofA Securities, Inc.,
201 North Tryon Street, Charlotte,
NC 28255-0001, Attention: Prospectus Department or by email
dg.prospectus_requests@bofa.com; Goldman Sachs & Co. LLC,
Prospectus Department, 200 West Street, New York, NY 10282, telephone at (866)
471-2526 or by emailing prospectus- ny@ny.email.gs.com; J.P. Morgan
Securities LLC, 383 Madison Avenue, New
York, NY 10179, Attention: Investment Grade Syndicate Desk,
3rd Floor, telephone collect at (212) 834-4533; and, Morgan
Stanley, 1585 Broadway, 29th Floor, New
York, NY 10036, Attention: Investment Banking Division,
Facsimile: (212) 507-8999.
About Safehold:
Safehold Inc. (NYSE: SAFE) is a publicly traded REIT that
acquires, manages and capitalizes ground leases and seeks to
deliver safe, growing income and long-term capital appreciation to
its stockholders.
Company Contact:
Pearse Hoffmann
Senior Vice President
Capital Markets & Investor Relations
T 212.930.9400
E investors@safeholdinc.com
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SOURCE Safehold
