NEW YORK, March 2, 2020 /PRNewswire/ -- iStar Inc. (NYSE:
STAR) announced today an adjustment to the conversion rates of its
3.125% Convertible Senior Notes due 2022 as a result of the common
stock cash dividends paid.
The conversion price applicable to the outstanding 3.125%
Convertible Senior Notes due 2022 has been adjusted to $14.63 per share (68.3420 shares of iStar common
stock per $1,000 principal amount of
Notes) effective February 28, 2020
and subject to further adjustment as provided in the governing
supplemental indenture.
Notice of the conversion rate adjustment has been delivered to
holders of the notes and U.S. Bank National Association, as
trustee, in accordance with the terms of the supplemental
indenture.
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iStar Inc. (NYSE: STAR) is focused on reinventing
the ground lease sector, unlocking value for real estate owners
throughout the country by providing modern, more efficient ground
leases on all types of properties. As the founder, investment
manager and largest shareholder of Safehold Inc. (NYSE: SAFE), the
first publicly traded company to focus on modern ground leases,
iStar is helping create a logical new approach to the way real
estate is owned, and continues to use its historic strengths in
finance and net lease to expand this unique platform. Recognized as
a consistent innovator in the real estate markets, iStar
specializes in identifying and scaling newly discovered
opportunities and has completed more than $40 billion of transactions over the past two
decades. Additional information on iStar is available on its
website at www.istar.com.
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SOURCE iStar Inc.