MoFo Represents Jernigan Capital in $88.5M Stock Offering

06/27/2017

David P. Slotkin, Scott Lesmes, John Hensley, Thomas A. Humphreys, and David J. Goett

Corporate and REITs

MoFo News Item

Morrison & Foerster LLP represented Jernigan Capital, Inc., a mortgage real estate investment trust (REIT), in an $88.5 million underwritten public offering of its common stock. The offering closed on June 27, 2017 and includes the full exercise of the underwriters’ option to purchase additional shares. Raymond James & Associates, Inc., Jefferies Group LLC, KeyBanc Capital Markets Inc. and Robert W. Baird & Co. Incorporated served as joint book-running managers, and FBR Capital Markets & Co. served as co-manager.

Jernigan Capital is a New York Stock Exchange-listed REIT (NYSE: JCAP) that provides debt and equity capital to private developers, owners, and operators of self-storage facilities.

MoFo’s nationally recognized REIT practice is actively involved in advising REITs and REIT sponsors, contributors, investors, investment advisers, underwriters, and institutional lenders on all aspects of REIT activity. Recent REITs our attorneys have advised include: MedEquities Realty Trust, Inc. (NYSE: MRT), Armada Hoffler Properties, Inc. (NYSE: AHH), Farmland Partners Inc. (NYSE: FPI), Education Realty Trust, Inc. (NYSE: EDR) and Plymouth Industrial REIT, Inc. (NYSE: PLYM). We have also represented Jernigan Capital in a number of other transactions, including its $115 million initial public offering (IPO) in 2015.

The MoFo team was led by David Slotkin, a Washington, D.C.-based Corporate partner and co-chair of MoFo’s Corporate Finance and REIT practices, and included Corporate Finance partner Scott Lesmes (D.C.) and associates John Hensley (D.C.) and Emily Shroder (D.C.) with tax assistance from partner Tom Humphreys (N.Y.) and associate David Goett (N.Y.).

Read Jernigan Capital’s related press release.

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