Jernigan Capital, Inc. Announces Commencement of Public Offering of Common Stock
22 June 2017 - 6:01AM
Business Wire
Jernigan Capital, Inc. (NYSE:JCAP) (the "Company") today
announced that it has commenced an underwritten public offering of
3,000,000 of shares of its common stock. The Company expects to
grant the underwriters a 30-day option to purchase up to an
additional 450,000 of shares of common stock.
The Company intends to use the net proceeds from the offering to
fund its development portfolio and for general corporate
purposes.
Raymond James & Associates, Inc., Jefferies LLC, Keybanc
Capital Markets Inc. and Robert W. Baird & Co. Incorporated are
acting as joint book-running managers for the offering and FBR
& Co. is acting as co-manager.
This offering may only be made by means of a prospectus
supplement and the accompanying prospectus. Copies of the
preliminary prospectus supplement and accompanying prospectus
related to the offering may be obtained, when available, by
visiting EDGAR on the Securities and Exchange Commission’s (the
“SEC”) website at www.sec.gov or from Raymond James &
Associates, Inc., 880 Carillon Parkway, St. Petersburg, FL 33716,
telephone: (800) 248-8863, email: prospectus@raymondjames.com;
Jefferies LLC, Attention: Equity Syndicate Prospectus Department,
520 Madison Avenue, 2nd Floor, New York, NY 10022, telephone: (877)
821-7388, email: Prospectus_Department@Jefferies.com; and KeyBanc
Capital Markets Inc., Attention: Equity Syndicate, 127 Public
Square, 4th Floor, Cleveland, Ohio 44114, or by telephone at (800)
859-1783.
The offering is being made pursuant to a shelf registration
statement on Form S-3 that was declared effective by the SEC on
June 24, 2016. A prospectus supplement relating to the offering
will be filed with the SEC. This press release shall not constitute
an offer to sell or the solicitation of an offer to buy any of
these securities, nor shall there be any sale of these securities
in any state or other jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or other
jurisdiction.
About Jernigan Capital, Inc.
Jernigan Capital, Inc. is a New York Stock Exchange-listed real
estate investment trust (NYSE: JCAP) that provides debt and equity
capital to private developers, owners, and operators of
self-storage facilities. Our mission is to be the preeminent
capital partner for self-storage entrepreneurs nationwide by
offering creative solutions through an experienced team
demonstrating the highest levels of integrity, dedication,
excellence and community, while maximizing shareholder value. The
Jernigan Capital team has extensive experience in over 100 U.S.
markets—from acquiring and managing self-storage properties to new
self-storage development—providing JCAP with knowledge unmatched by
any lender, broker or advisor to the sector. Jernigan Capital is
the only source of construction and development capital focused
solely on the self-storage sector.
Forward-Looking Statements
This press release may include "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. The ultimate occurrence of events and results referenced
in these forward-looking statements is subject to known and unknown
risks, uncertainties, and other factors that may cause the actual
results or performance to differ from those projected in the
forward-looking statement. These statements relate to the Company's
offering of common stock and the anticipated use of the net
proceeds. No assurance can be given that the offering will be
completed on the terms described, or at all, or that the net
proceeds from the offering will be used as indicated. Completion of
the offering on the terms described, and the application of the net
proceeds, are subject to numerous conditions, many of which are
beyond the control of the Company, including market conditions,
general economic conditions and other factors, including those set
forth under the heading "Risk Factors" in the Company's Annual
Report on Form 10-K for the year ended December 31, 2016, and those
set forth in the Company's other reports and information filed with
the SEC, which are accessible on the SEC's website at
www.sec.gov.
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version on businesswire.com: http://www.businesswire.com/news/home/20170621006272/en/
Jernigan Capital, Inc.Investor Relations: (901)
567-9580Investorrelations@jernigancapital.com
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