On September 27, 2016, Zais Financial Corp. and Sutherland Asset Management announced they will move forward with their previously announced merger.
The announcement came after stockholders of both Sutherland Asset Management (“Sutherland”) and Zais Financial Corp. (“Zais”) voted in favor of the merger. After the merger, Sutherland will be a wholly-owned subsidiary of Zais. Sutherland stockholders will receive 0.8356 shares of Zais stock for each share of Sutherland stock. The merger is set to close on or after October 26, 2016. Further terms of the merger were not disclosed.
Zais is a real estate investment trust (“REIT”) managed and advised by Zais Reit Management, LLC. Sutherland is a privately held REIT that manages small balance administration and small balance commercial loans. Sutherland is managed and advised by Waterfall Asset Management, LLC.
To read the press release: please click here.