NexPoint Completes Acquisition of Jernigan Capital Inc.
November 06, 2020 at 16:15 PM EST
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.
NexPoint is a registered investment adviser to a suite of funds and investment offerings, including a closed-end fund, a business development company, an interval fund, and various real estate vehicles. NexPoint is part of a multi-billion-dollar global alternative investment platform. For more information visit www.nexpointgroup.com.
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