Sutherland Asset Management Corporation Announces Closing of Public Sale of Notes

NEW YORK, April 27, 2018 /PRNewswire/ -- Sutherland Asset Management Corporation (NYSE: SLD) (the "Company") today announced that it closed an underwritten public sale of $50 million aggregate principal amount of its 6.50% Senior Notes due 2021 (CUSIP No. 86933F 701 and ISIN US86933F7015) (the "Notes"). The Notes were issued in minimum denominations and integral multiples of $25.00. The Company has granted to the underwriters a 30-day option to purchase up to an additional $7.5 million aggregate principal amount of the Notes at the public offering price, less the underwriting discount. The Company intends to use the net proceeds from this offering to originate or acquire additional mortgage loans and mortgage-related assets consistent with its investment strategy and for general corporate purposes. Sandler O'Neill + Partners, L.P. served as book-running manager and American Capital Partners, LLC, Boenning & Scattergood, Inc., Incapital, R. Seelaus & Co., Inc. and Wedbush Securities served as co-managers for the offering.

The Company has applied to list the Notes on the New York Stock Exchange under the symbol "SLDD" and, if the application is approved, trading is expected to commence within 30 days of the closing of the offering.

A registration statement relating to the Notes was declared effective by the Securities and Exchange Commission (the "SEC") on July 27, 2017. The offering was made only by means of a preliminary prospectus supplement and accompanying prospectus, which have been filed with the SEC.  A copy of the prospectus supplement and accompanying prospectus may be obtained free of charge at the SEC's website at www.sec.gov or from the underwriters by contacting: Sandler O'Neill + Partners, L.P., 1251 Avenue of the Americas, 6th Floor, New York, New York 10020, Attention: Syndicate Operations (telephone: 1 (866) 805-4128, email: syndicate@sandleroneill.com).

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the Company's securities, nor shall there be any sale of the Company's securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

About Sutherland Asset Management Corporation

Sutherland Asset Management Corporation (NYSE: SLD) is a REIT that originates, acquires, finances, services and manages primarily small balance commercial ("SBC") loans, U.S. Small Business Administration loans under its Section 7(a) program, and residential mortgage loans.  The Company originates SBC loans through its ReadyCap Lending subsidiaries and originates residential mortgage loans through its GMFS subsidiary.  The Company is externally managed and advised by Waterfall Asset Management, LLC.

Forward-Looking Statements

This press release contains certain forward-looking statements. Words such as "believes," "intends," "expects," "projects," "anticipates," and "future" or similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions, many of which are beyond the control of the Company, including, without limitation, the risk factors and other matters set forth in the prospectus supplement and the accompanying prospectus and the Company's Annual Report on Form 10-K for the year ended December 31, 2017 filed with the SEC and in its other filings with the SEC. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.

Contacts:
Sutherland Asset Management Corporation
Thomas E. Capasse
Chief Executive Officer
or
Frederick C. Herbst
Chief Financial Officer
RHerbst@waterfallam.com
212-257-4666

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SOURCE Sutherland Asset Management Corporation