Colony NorthStar, Inc. Announces Redemption of 8.500% Series D Cumulative Redeemable Perpetual Preferred Stock
May 31, 2018 at 7:00 PM EDT
LOS ANGELES & NEW YORK--(BUSINESS WIRE)--May 31, 2018--
Colony NorthStar, Inc. (NYSE: CLNS) (“Colony NorthStar” or the
“Company”) today announced that it is redeeming all of its 8,000,000
outstanding shares of 8.500% Series D Cumulative Redeemable Perpetual
Preferred Stock (NYSE: CLNSPrD) (the “Series D Preferred Shares”).
The cash redemption price for each Series D Preferred Share is $25.00,
plus any accrued and unpaid dividends (whether or not declared) to, but
not including, the redemption date of July 2, 2018 (the “Redemption
Date”). Dividends on the Series D Preferred Shares will cease to accrue
on the Redemption Date. Upon redemption, the Series D Preferred Shares
will no longer be outstanding, and all rights of the holders of such
shares will terminate, except the right of the holders to receive the
cash payable upon such redemption, without interest. Upon redemption,
the shares of the Series D Preferred Shares will be delisted from
trading on the New York Stock Exchange.
All shares of Series D Preferred Shares are held in book-entry form
through the Depository Trust Company (“DTC”). The Series D Preferred
Shares will be redeemed in accordance with the procedures of DTC.
Payment to DTC for the shares of Series D Preferred Shares will be made
by American Stock Transfer & Trust Company, LLC, as redemption agent
(the “Redemption Agent”).
The address for the Redemption Agent is as follows:
American Stock Transfer & Trust Company, LLC
6201 15th Avenue
New York 11219
Attn: Reorganization Department
This press release does not constitute a notice of redemption under the
Company’s Articles of Amendment and Restatement governing the Series D
About Colony NorthStar, Inc.
Colony NorthStar, Inc. (NYSE: CLNS) is a leading global real estate and
investment management firm. The Company resulted from the January 2017
merger between Colony Capital, Inc., NorthStar Asset Management Group
Inc. and NorthStar Realty Finance Corp. The Company has significant
property holdings in the healthcare, industrial and hospitality sectors,
other equity and debt investments and an embedded institutional and
retail investment management business. The Company currently has assets
under management of $43 billion and manages capital on behalf of its
stockholders, as well as institutional and retail investors in private
funds, non-traded and traded real estate investment trusts and
registered investment companies. The firm maintains principal offices in
Los Angeles and New York, with approximately 500 employees in offices
located across 18 cities in ten countries. The Company will elect to be
taxed as a REIT for U.S. federal income tax purposes. For additional
information regarding the Company and its management and business,
please refer to www.clns.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release may contain forward-looking statements within the
meaning of the federal securities laws. Forward-looking statements
relate to expectations, beliefs, projections, future plans and
strategies, anticipated events or trends and similar expressions
concerning matters that are not historical facts. In some cases, you can
identify forward-looking statements by the use of forward-looking
terminology such as “may,” “will,” “should,” “expects,” “intends,”
“plans,” “anticipates,” “believes,” “estimates,” “predicts,” or
“potential” or the negative of these words and phrases or similar words
or phrases which are predictions of or indicate future events or trends
and which do not relate solely to historical matters. Forward-looking
statements involve known and unknown risks, uncertainties, assumptions
and contingencies, many of which are beyond our control, and may cause
actual results to differ significantly from those expressed in any
forward-looking statement. Additional information about factors that
could cause actual results to differ materially from Colony NorthStar’s
expectations can be found in Colony NorthStar’s reports filed from time
to time with the Securities and Exchange Commission.
Colony NorthStar cautions investors not to unduly rely on any
forward-looking statements. The forward-looking statements speak only as
of the date of this press release. Colony NorthStar is under no duty to
update any of these forward-looking statements after the date of this
press release, nor to conform prior statements to actual results or
revised expectations, and Colony NorthStar does not intend to do so.
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Source: Colony NorthStar, Inc.
Colony NorthStar, Inc.
Executive Vice President
and Chief Financial Officer