Secondary Stock OfferingsBy The Online Investor Staff, updated Thu., Sep. 23, 12:56 AM
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Slide #3. Safehold Inc. — Secondary Offering
Safehold Inc. (NYSE:SAFE)
Secondary Offering Details:
Safehold Inc. (NYSE: SAFE) (the "Company") announced today that it has commenced an underwritten public offering to sell 2,000,000 shares of its common stock. The Company intends to grant the underwriters in the offering a 30-day option to purchase up to an additional 300,000 shares of its common stock.
Safehold is a holding company. Through its subsidiaries, Co. operates its business through one segment by acquiring, managing and capitalizing ground leases. Ground leases generally represent the ownership of land underlying commercial real estate properties, which are leased on a long-term basis (base terms are 30 to 99 years, often with tenant renewal options) by the land owner to a tenant that owns and operates the building on top of the land, or what Co. refer to as a Safehold.
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Buy (2.80 out of 4)