Claros Mortgage Trust, Inc.

Claros Mortgage Trust, Inc. (CMTG) priced its initial public offering on Nov 4, 2021 at $18.65 per share, raising $103M, and listed on NYSE. At the IPO price its market capitalization was about $2.61B. Morgan Stanley was lead-left underwriter, joined by J.P. Morgan, Goldman Sachs and Deutsche Bank and others. Latham & Watkins and Venable advised the company and Sidley Austin advised the underwriters.

Claros Mortgage Trust, Inc. is a commercial real estate finance company that mainly originates senior and subordinate loans on transitional properties in major U.S. markets. These assets need repositioning, renovation, leasing or development to maximize value.

Status

IPO

Ticker

CMTG

Exchange

NYSE

Priced

Nov 4, 2021

IPO price

$18.65

Raised

$103M

Market cap at IPO price

$2.61B

First filed

Oct 8, 2021

Underwriters

Morgan Stanley, J.P. Morgan, Goldman Sachs, Deutsche Bank, UBS, Wells Fargo, Citizens JMP and Stifel

Company counsel

Latham & Watkins and Venable

Underwriters' counsel

Sidley Austin

Sector

Real estate & finance

Country / state

NY

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.