Blackstone Mortgage Trust Announces Public Offering Of Class A Common Stock (PR NewsWire)
Blackstone Mortgage Trust (NYSE: BXMT) (the "Company") today announced it has commenced an underwritten public offering of 8,500,000 shares of its class A common stock. The underwriters have been granted a 30-day option by the Company to purchase up to an additional 1,275,000 shares.
The Company intends to use the net proceeds from the offering to originate and purchase additional commercial mortgage loans and other target assets and investments consistent with its investment strategies and investment guidelines, and for working capital and other general corporate purposes. Question, I am a new investor and was wondering if it is a bad omen or is it a good buying opportunity?