NorthStar Realty Finance offers 15 million shares in public offering

Proceeds will be used to repay debt and to make investments

By Angela McDaniels

Tacoma, Wash., May 9 - NorthStar Realty Finance Corp. plans to sell 15 million shares of common stock in an underwritten public offering, according to a 424B5 filing with the Securities and Exchange Commission.

There is an over-allotment option for 2.25 million additional shares.

Citigroup Global Markets Inc. and Wells Fargo Securities, LLC are the bookrunners, and FBR Capital Markets & Co. is the co-manager.

The price per share has not be set. The company's stock closed at $5.10 (NYSE: NRF) on Monday. At that price, the offering would total $76.5 million before the greenshoe.

The proceeds will be used to purchase or repay debt, to make investments and for general corporate purposes.

NorthStar Realty is a real estate investment trust based in New York that primarily originates and invests in commercial real estate debt, real estate securities and net lease properties.

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