Jernigan Capital Announces Pricing of Initial Public Offering
March 26 2015 - 7:43PM
Business Wire
Jernigan Capital, a commercial real estate finance company
founded by self-storage industry veteran Dean Jernigan, today
announced the pricing of its initial public offering of 5,000,000
shares of its common stock at a price to the public of $20 per
share. In addition, Jernigan Capital has granted the underwriters a
30-day option to purchase up to 750,000 additional shares of common
stock at the initial public offering price. The shares are expected
to begin trading on the New York Stock Exchange (“NYSE”) on Friday,
March 27, 2015, under the ticker symbol “JCAP.”
Raymond James & Associates, Inc. is acting as the
book-running manager for the offering. Robert W. Baird & Co.
and Wunderlich Securities, Inc. are acting as co-managers.
A registration statement relating to these securities was
declared effective by the Securities and Exchange Commission on
March 26, 2015. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy, nor may there be any
sale of these securities in any state or jurisdiction in which such
an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
The offering is being made only by means of a prospectus. A copy
of the final prospectus related to the offering may be obtained,
when available, from: Raymond James and Associates, Inc., 880
Carillon Parkway, St. Petersburg, Florida 33716; telephone:
1-800-248-8863, or email: prospectus@raymondjames.com.
About Jernigan Capital
Jernigan Capital is a commercial real estate finance company
that provides financing to private developers, owners and operators
of self-storage facilities. Jernigan Capital offers financing
solutions for the ground-up construction of self-storage facilities
or major self-storage redevelopment opportunities, as well as for
the acquisition of, refinancing of existing indebtedness on, or
recapitalization of stabilized self-storage facilities. Jernigan
Capital intends to elect to be taxed as a real estate investment
trust and is externally managed by JCap Advisors, LLC.
Forward-Looking Statements
This press release includes "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995
and other federal securities laws. Forward-looking statements are
subject to known and unknown risks and uncertainties, many of which
may be beyond our control. These forward-looking statements are
based upon the Company's present expectations, but these statements
are not guaranteed to occur. For example, the fact that the
offering described above has priced may imply that the offering
will close, but the closing is subject to conditions customary in
transactions of this type and may be delayed or may not occur at
all. In addition, the fact that the underwriters have an
over-allotment option may imply that this option will be
exercised. However, the underwriters are not under any
obligation to exercise this option, or any portion of it, and they
may not do so. Investors should not place undue reliance upon
forward-looking statements.
Jernigan CapitalGregory W. Ward, 305-381-9696