U.S. markets closed
  • S&P 500

    3,911.74
    +116.01 (+3.06%)
     
  • Dow 30

    31,500.68
    +823.32 (+2.68%)
     
  • Nasdaq

    11,607.62
    +375.43 (+3.34%)
     
  • Russell 2000

    1,765.74
    +54.06 (+3.16%)
     
  • Crude Oil

    107.06
    +2.79 (+2.68%)
     
  • Gold

    1,828.10
    -1.70 (-0.09%)
     
  • Silver

    21.13
    +0.09 (+0.42%)
     
  • EUR/USD

    1.0559
    +0.0034 (+0.33%)
     
  • 10-Yr Bond

    3.1250
    +0.0570 (+1.86%)
     
  • GBP/USD

    1.2270
    +0.0009 (+0.07%)
     
  • USD/JPY

    135.2100
    +0.2770 (+0.21%)
     
  • BTC-USD

    21,253.87
    +239.23 (+1.14%)
     
  • CMC Crypto 200

    462.12
    +8.22 (+1.81%)
     
  • FTSE 100

    7,208.81
    +188.36 (+2.68%)
     
  • Nikkei 225

    26,491.97
    +320.72 (+1.23%)
     

iStar Announces Adjustment of Conversion Rate for Convertible Notes

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

NEW YORK, June 1, 2022 /PRNewswire/ -- iStar Inc. (NYSE: STAR) announced today an adjustment to the conversion rate of its 3.125% Convertible Senior Notes due 2022 as a result of the common stock cash dividends to be paid on June 15, 2022.

The conversion price applicable to the outstanding Convertible Notes has been adjusted to $13.73 per share (72.8554 shares of iStar common stock per $1,000 principal amount of Notes) effective May 31, 2022 and subject to further adjustment as provided in the governing supplemental indenture.

Notice of the conversion rate adjustment has been delivered to holders of the notes and U.S. Bank National Association, as trustee, in accordance with the terms of the supplemental indenture.

*                 *                 *

iStar Inc. (NYSE: STAR) is focused on reinventing the ground lease sector, unlocking value for real estate owners throughout the country by providing modern, more efficient ground leases on institutional quality properties. As the founder, investment manager and largest shareholder of Safehold Inc. (NYSE: SAFE), the creator of the modern ground lease industry, iStar is using its national investment platform and its historic strengths in finance and net lease to expand the use of modern ground leases within the $7 trillion institutional commercial real estate market. Recognized as a consistent innovator in the real estate markets, iStar specializes in identifying and scaling newly discovered opportunities and has completed more than $40 billion of transactions over the past two decades. Additional information on iStar is available on its website at www.istar.com.

iStar logo. (PRNewsFoto/iStar Financial Inc.) (PRNewsfoto/iStar)
iStar logo. (PRNewsFoto/iStar Financial Inc.) (PRNewsfoto/iStar)

 

Cision
Cision

View original content to download multimedia:https://www.prnewswire.com/news-releases/istar-announces-adjustment-of-conversion-rate-for-convertible-notes-301559526.html

SOURCE iStar Inc.