04:41 PM EDT, 09/03/2024 (MT Newswires) -- Starwood Property Trust ( STWD ) said Tuesday it is selling 17.5 million shares in an underwritten public offering.

The offering includes a 30-day option for underwriters to buy up to an additional 2.6 million shares, according to the company.

Starwood plans to use net proceeds from the offering to purchase additional commercial mortgage loans, assets, and investments.

Pricing of the offering was not disclosed.

Shares of the company fell 2.4% in recent after-hours activity.

Price: 20.00, Change: -0.55, Percent Change: -2.68