iStar Announces Final Consolidation Ratio In Connection With Safehold Merger

Author: Happy Mohamed | March 30, 2023 04:09pm

iStar Inc. (NYSE:STAR) announced today the final consolidation ratio that will be used in the reverse split of iStar common stock that will occur immediately prior to the effective time of the merger of iStar and Safehold ("Safe").  In the reverse stock split, each share of iStar common stock outstanding will be consolidated into 0.160 shares of iStar common stock (the "Star share consolidation ratio").  Immediately thereafter, Safe will merge with and into iStar, with iStar as the surviving corporation and operating under the name Safehold Inc. ("New Safehold"), and each outstanding share of Safe common stock will be converted into one share of common stock of New Safehold.  The consolidated shares of iStar common stock will remain outstanding as common stock of New Safehold.

iStar stockholders will receive cash in lieu of any fractional shares resulting from the reverse stock split

Posted In: SAFE STAR