Capital share sale.Capital Trust, Inc. announced that it has agreed to sell 2,000,000 shares of its class A common stock raising gross offering proceeds of approximately $90 million through an underwritten public offering. Bear, Stearns & Co. Inc. is acting as the sole underwriter underwriter n. a company or person which/who underwrites an insurance policy, issue of corporate securities, business, or project. (See: underwrite) UNDERWRITER, insurances. One who signs a policy of insurance, by which he becomes an insurer. of the offering. The offering will be made under Capital Trust's existing shelf registration statement filed with the Securities and Exchange Commission. All of the shares in the offering are being sold by Capital Trust. The company expects that the offering will be completed on or about November November: see month. 3, 2006, subject to customary closing conditions. Capital Trust intends to use the net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). from this offering for general corporate purposes, including funding balance sheet investment activity, the repayment of indebtedness INDEBTEDNESS. The state, of being in debt, without regard to the ability or inability of the party to pay the same. See 1 Story, Eq. 343; 2 Hill. Ab. 421. 2. , working capital and potential business acquisitions. |
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