MEMPHIS: Affiliates of NexPoint Advisors L.P. completed acquisition of Jernigan Capital Inc., in an all-cash transaction valued at approximately $900 million.
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 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.