SEATTLE, Nov. 15, 2021
SEATTLE--(BUSINESS WIRE)-- Broadmark Realty Capital Inc. (NYSE: BRMK) (“BRMK” or the “Company”), an internally managed secured real estate finance company, today announced that it has closed the private placement of $100 million aggregate principal amount of 5.0% senior unsecured notes due 2026 (the “Notes”).
The Company intends to use the net proceeds from the offering to originate new investments relating to its business.
“We are excited to announce our first bond offering, which begins our strategic approach to diversifying and enhancing our capital structure to enable accelerated growth of our business,” stated David Schneider, Chief Financial Officer. “By quickly deploying these attractively-priced proceeds into new investments, we expect to continue to drive superior risk-adjusted shareholder returns with low leverage.”
Piper Sandler & Co. acted as placement agent for the offering.
The Notes have not been and will not be registered under the Securities Act of 1933, amended or any state securities laws and may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, registration requirements of the Securities Act and applicable state securities laws.
This press release is for informational purposes only and does not constitute an offer to sell nor the solicitation of an offer to buy the Notes or any other securities and does not constitute an offer, solicitation or sale in any jurisdiction in which, or to any person to whom, such an offer, solicitation or sale is unlawful.
About Broadmark Realty Capital
Broadmark Realty Capital Inc. (NYSE: BRMK) is an internally managed commercial real estate finance company that offers short-term, first deed of trust loans secured by real estate to fund the acquisition, renovation, rehabilitation or development of residential or commercial properties. Broadmark Realty Capital manages and services its loan portfolio across a variety of market conditions and economic cycles.
Forward Looking Statements
Certain statements made herein are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “may”, “should”, “would”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict”, “potential”, “seem”, “seek”, “continue”, “future”, “will”, “expect”, “outlook” or other similar words, phrases or expressions. These statements are based on the current expectations and are not predictions of actual performance. In addition, actual results are subject to other risks and uncertainties that relate more broadly to the Company’s overall business, including those more fully described in the Company’s filings with the SEC. Forward-looking statements are not guarantees of performance, and speak only as of the date made, and the Company undertakes no obligation to update or revise any forward-looking statements except as required by law.
Investor Relations
InvestorRelations@broadmark.com
206-623-7782
Media Relations
Megan Kivlehan & Greg Michaels
broadmark@icrinc.com
Source: Broadmark Realty Capital Inc.
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