NexPoint Completes Acquisition of Jernigan Capital Inc.
JERNIGAN CAPITAL INC (JCAP)
Last jernigan capital inc earnings: 2/26 04:05 pm
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Source: Business Wire
MEMPHIS, Tennessee--(BUSINESS WIRE)--Jernigan Capital, Inc. (NYSE: JCAP) announced today the completion of its previously announced acquisition by affiliates of NexPoint Advisors, L.P. (“NexPoint”), in an all-cash transaction valued at approximately $900 million, including debt and preferred stock to be assumed or refinanced. Pursuant to the transaction, holders of Jernigan’s common stock and holders of units of operating company interests in Jernigan Capital Operating Company, LLC are entitled to receive $17.30 per share/unit in cash. In connection with the transaction, all of Jernigan’s outstanding Series B preferred shares (the “Series B Preferred Shares”) will be redeemed for its series B liquidation value, in accordance with the terms thereof. As a result of the transaction, Jernigan’s common shares and Series B Preferred Shares will cease trading on the New York Stock Exchange.About NexPointNexPoint is a registered investment adviser to a suite of funds and investment offeri
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