DALLAS, Nov. 14, 2018 /PRNewswire/ -- NexPoint
Residential Trust, Inc. (NYSE: NXRT) ("NXRT") announced today it
has commenced an underwritten public offering of 2,250,000 shares
of its common stock. NXRT expects to grant the underwriters an
option to purchase up to an additional 337,500 shares of its common
stock in connection with the offering.
NXRT intends to contribute the net proceeds from the offering to
NexPoint Residential Trust Operating Partnership, L.P., its
operating partnership, which in turn intends to use the net
proceeds to repay the amount outstanding under its $30 million bridge facility and a portion of the
amount outstanding under its $60
million credit facility.
Raymond James & Associates,
Inc. and Jefferies LLC are acting as joint book running managers
for the offering. D.A. Davidson & Co. and Ladenburg Thalmann
& Co. Inc., a subsidiary of Ladenburg Thalmann Financial
Services Inc., are serving as co-managers.
The offering may only be made by means of a prospectus
supplement and the accompanying prospectus. Copies of the
prospectus supplement and the accompanying prospectus related to
the offering may be obtained, when available, by visiting EDGAR on
the Securities and Exchange Commission (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; and 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.
The offering is being made pursuant to a shelf registration
statement on Form S-3 that was declared effective by the SEC on
April 24, 2017. A prospectus
supplement relating to the offering will be filed with the SEC.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy any of these securities, nor shall
there be any sale of these securities in any state or 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 jurisdiction.
About NXRT
NexPoint Residential Trust is a publicly traded REIT, with its
shares listed on the New York Stock Exchange under the symbol
"NXRT," primarily focused on acquiring, owning and operating
well-located middle-income multifamily properties with "value-add"
potential in large cities and suburban submarkets of large cities,
primarily in the Southeastern and Southwestern United States. NXRT is externally
advised by NexPoint Real Estate Advisors, L.P., an affiliate of
Highland Capital Management, L.P., a leading global alternative
asset manager and an SEC-registered investment adviser.
Cautionary Notice Regarding Forward-Looking
Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
that are based on management's current expectations, assumptions
and beliefs. Forward-looking statements can often be identified by
words such as "expect," "anticipate," "estimate," "may," "should,"
"intend" and similar expressions, and variations or negatives of
these words. These forward-looking statements include, but are not
limited to, statements regarding NXRT's offering of common stock
and the use of proceeds from the offering. They are not guarantees
of future results and are subject to risks, uncertainties and
assumptions that could cause actual results to differ materially
from those expressed in any forward-looking statement. Readers
should not place undue reliance on any forward-looking statements
and are encouraged to review the Company's most recent Annual
Report on Form 10-K and other filings with the SEC for a more
complete discussion of the risks and other factors that could
affect any forward-looking statements. Except as required by law,
NXRT does not undertake any obligation to publicly update or revise
any forward-looking statements.
Contact:
Marilynn
Meek
Financial Relations Board
212-827-3773
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SOURCE NexPoint Residential Trust, Inc.