NEW YORK, Feb. 22, 2022 /PRNewswire/ -- Lument Finance
Trust, Inc. (NYSE: LFT) ( "LFT" or the "Company")
announced the final results of its transferable rights
offering, which entitled holders of rights to purchase one share of
common stock for every right held at a subscription price
of $3.06 per share. The rights offering expired
on February 11, 2022 at 5:00 p.m., New York
City time.
The Company received subscription requests (including
over-subscription requests) for 27,277,269 shares of common
stock. Accordingly, the Company raised aggregate gross
proceeds of approximately $83.5
million in the rights offering. The Company issued the
27,277,269 shares of common stock subscribed for in the rights
offering on February 22, 2022.
The Company intends to use the net proceeds from the sale of
shares of its common stock in the rights offering to acquire or
originate commercial real estate mortgage loans in accordance with
the Company's investment strategy and for other general corporate
purposes.
Wells Fargo Securities, LLC and JMP Securities, A Citizens
Company, acted as the dealer managers for the rights offering.
ABOUT LFT
LFT is a Maryland corporation
focused on investing in, financing and managing a portfolio of
commercial real estate debt investments. LFT primarily invests in
transitional floating rate commercial mortgage loans with an
emphasis on middle-market multi-family assets. LFT is
externally managed and advised by OREC Investment Management, LLC
d/b/a Lument Investment Management, a Delaware limited liability company.
FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995. Statements other than statements of historical facts included
in this press release may constitute forward-looking statements and
are not guarantees of future performance or results and involve a
number of risks and uncertainties. Actual results may differ
materially from those expressed or implied in the forward-looking
statements as a result of a number of factors, including those
described from time to time in filings with the Securities and
Exchange Commission. Lument Finance Trust, Inc. undertakes no duty
to update any forward-looking statement made herein. All
forward-looking statements speak only as of the date of this press
release.
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SOURCE Lument Finance Trust, Inc.