NEW YORK, July 26, 2021 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the officers or directors of Capstead Mortgage Corporation (NYSE: CMO) breached their fiduciary duties or violated the federal securities laws in connection with the company’s acquisition by Benefit Street Partners Realty Trust, Inc. (“BSPRT”).
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On July 26, 2021, Capstead announced that it had entered into an agreement to be acquired by BSPRT in a cash and stock deal. Pursuant to the merger agreement, Capstead stockholders will receive a cash payment equal to a 15.75% premium to Capstead’s diluted book value per share and shares of BSPRT common stock calculated on an adjusted “book-for-book” basis. The book values for Capstead and BSPRT used to calculate the cash consideration and exchange ratio will be set on a date prior to the closing of the transaction. The deal is scheduled to close in the fourth quarter of 2021.
Bragar Eagel & Squire is concerned that Capstead’s board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Capstead’s stockholders.
If you own shares of Capstead and are concerned about the proposed merger, or you are interested in learning more about the investigation or your legal rights and remedies, please contact Melissa Fortunato or Alexandra Raymond by email at email@example.com or telephone at (646) 860-9157, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.