Blackstone Mortgage Trust, Inc. (NYSE:BXMT) will look for investments. The company announced the pricing of an underwritten public offering of $300 million aggregate principal amount of its 5.50% convertible senior notes due 2027 (the “Notes”). The offering is expected to close on March 29, 2022 and is subject to customary closing conditions.

The offering will generate gross proceeds of approximately $300 million, or $345 million if the underwriters exercise their option to purchase additional Notes solely to cover over-allotments in full. The Company intends to use the net proceeds from the offering for general corporate purposes, which may include the repayment of debt, including a portion of the $402.5 million outstanding aggregate principal amount of the Company's 4.375% Convertible Senior Notes due 2022, and supporting the origination of additional commercial mortgage loans and other target assets and investments.