04:31 AM EDT, 07/17/2025 (MT Newswires) -- Starwood Property Trust ( STWD ) said late Wednesday it priced an underwritten public offering of 25.5 million common shares for expected gross proceeds of $508 million.

Underwriters have been granted a 30-day option to purchase up to about 3.8 million additional shares.

Proceeds are estimated to be about $584 million if the underwriters fully exercise their overallotment option.

Net proceeds from the offering, which is set to close on Friday, will be used for acquisitions, purchases of commercial mortgage loans and other assets, as well as for debt repayments, the company said.

Shares of Starwood Property ( STWD ) declined more than 3% in recent premarket trading activity Thursday.