Press Release September 23, 2021

InPoint Commercial Real Estate Income Closes Upsized $87.5 Million Public Offering of Preferred Stock

Alston & Bird acted as counsel to InPoint Commercial Real Estate Income Inc., a commercial mortgage REIT, in its underwritten public offering of $87.5 million of Series A preferred stock. The offering was novel because it marked the company’s capital markets debut on the New York Stock Exchange with a public offering of preferred stock rather than the more customary offering of common stock.

The company has also granted the underwriters a 30-day over-allotment option to purchase an additional 525,000 shares of the Series A preferred stock and will receive an additional $13.1 million in gross proceeds if the underwriters exercise their over-allotment option in full.

InPoint intends to use the net proceeds to acquire targeted assets in a manner consistent with its investment strategies and investment guidelines and for general corporate purposes.

The Series A Preferred Stock will list on the NYSE under the symbol “ICR PR A,” with trading expected to commence on or about September 23, 2021.

Advising InPoint is an Alston & Bird team led by partners Michael Kessler and Rosemarie Thurston, senior associates Daniel Honeycutt and Ian Jones, and associate Alexa Shockley (REITs); and partner Shawna Tunnell and senior associate Stefanie Kavanagh (Tax).
Media Contact
Alex Wolfe
Communications Director

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