Mortgage REIT NexPoint Real Estate Finance sets terms for $100 million IPO

NexPoint Real Estate Finance, a mortgage REIT focused on single-family and multifamily commercial debt, announced terms for its IPO on Monday.

The Dallas, TX-based company plans to raise $100 million by offering 5 million shares at a price range of $19 to $21. The sponsor intends to purchase $5 million worth of shares in the offering. At the midpoint of the proposed range, the REIT would command a fully diluted market value of $353 million, including $253 million worth of redeemable LP units. The company ended the quarter with pro forma assets of $2.8 billion and debt of $2.45 billion.

NexPoint Real Estate Finance was formed in 2019 and booked $34 million in pro forma revenue for the 12 months ended December 31, 2019. It plans to list on the NYSE under the symbol NREF. Raymond James, Keefe Bruyette Woods and Baird are the joint bookrunners on the deal. It is expected to price on Thursday, February 6, 2020.

The article Mortgage REIT NexPoint Real Estate Finance sets terms for $100 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Tags

More Related Articles

Info icon

This data feed is not available at this time.

Data is currently not available

Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.