Ladder Capital Corp-A美股招股说明书(2025-06-24版)

424B21tm2516448-3_424b2.htm424B2 TABLEOFCONTENTS Theinformationinthispreliminaryprospectussupplementisnotcompleteandmaybechanged.AregistrationstatementrelatingtothesesecuritiesiseffectiveundertheSecuritiesActof1933,asamended.Wearenotusingthispreliminaryprospectussupplementandtheaccompanyingprospectustooffertosellortosolicitofferstobuythesesecuritiesinanyjurisdictionwheretheofferorsaleisnotpermitted. FiledPursuanttoRule424(b)(2) RegistrationNos.333-288227;333-288227-01;333-288227-02SUBJECTTOCOMPLETION PRELIMINARYPROSPECTUSSUPPLEMENTDATEDJUNE24,2025 PRELIMINARYPROSPECTUSSUPPLEMENT (ToProspectusdatedJune23,2025) LADDERCAPITALFINANCEHOLDINGSLLLPLADDERCAPITALFINANCECORPORATION $               %SeniorNotesdue20   guaranteedby LADDERCAPITALCORP LadderCapitalFinanceHoldingsLLLP,aDelawarelimitedliabilitylimitedpartnership(“LCFH”),andLadderCapitalFinanceCorporation,aDelawarecorporationandawholly-ownedsubsidiaryofLCFH(the“Co-Issuer”and,togetherwithLCFH,the“Issuers”),areoffering$          aggregateprincipalamountof    %SeniorNotesdue20  (the“notes”).Interestonthenoteswillbepaidsemi-annuallyinarrearson        and      ofeachyear,beginningon         ,2026.Thenoteswillmatureon        ,20  .TheIssuersmayredeemthenotes,inwholeorinpart,atanytimeandfromtimetotime,priortotheirstatedmaturityattheapplicableredemptionpricedescribedinthisprospectussupplementinthesectionentitled“DescriptionofNotes—RedemptionRights.” ThenoteswillbeunsecuredandwillrankequallyinrightofpaymenttoalloftheIssuers’existingandfutureunsecuredunsubordinateddebtandseniorinrightofpaymenttoalloftheIssuers’existingandfuturedebtthatisbyitstermsexpresslysubordinatedinrightofpaymenttothenotes.ThenoteswillbeeffectivelysubordinatedtoanyoftheIssuers’existingandfuturesecureddebttotheextentofthevalueoftheassetssecuringsuchdebt.TheobligationstomakepaymentsofprincipalandinterestonthenoteswillbestructurallysubordinatedtoanyobligationsoftheIssuers’subsidiaries. ThenoteswillbefullyandunconditionallyguaranteedonaseniorunsecuredbasisbyLCFH’sparentcompany,LadderCapitalCorp(the“Parent”).ParentdoesnothaveanymaterialassetsotherthanitsinvestmentinLCFH. Thenotesareanewissueofsecuritieswithnoestablishedtradingmarket.Wedonotintendtoapplyforlistingofthenotesonanysecuritiesexchangeorforquotationofthenotesonanyautomateddealerquotationsystem. Investinginthenotesinvolvesahighdegreeofrisk.See“RiskFactors”beginningonpageS-10ofthisprospectussupplementandtheinformationsetforthinParent’sfilingsundertheSecuritiesExchangeActof1934,asamended(the“ExchangeAct”),thatareincorporatedhereinbyreference. Publicofferingprice(1)       % Pernote Proceeds,beforeexpenses,totheIssuers % Underwritingdiscount% (1) Plusaccruedinterestfrom         ,2025,ifany,ifsettlementoccursafterthatdate. NeithertheSecuritiesandExchangeCommission(the“SEC”)noranystateorothersecurities commissionhasapprovedordisapprovedofthesesecuritiesordeterminedifthisprospectussupplementortheaccompanyingprospectusistruthfulorcomplete.Anyrepresentationtothecontraryisacriminaloffense. Theunderwritersexpecttodeliverthenotesinbook-entryonlyformthroughTheDepositoryTrustCompany,ClearstreamBankingS.A,andEuroclearBank,S.A./N.V.asoperatoroftheEuroclearSystemonorabout        ,2025. JointBook-RunningManagers J.P.MorganWellsFargoSecurities BofASecuritiesSOCIETEGENER Thedateofthisprospectussupplementis        ,2025. TABLEOFCONTENTS TABLEOFCONTENTS Page ABOUTTHISPROSPECTUSSUPPLEMENT S-1 S- CAUTIONARYSTATEMENTREGARDINGFORWARD-LOOKINGSTATEMENTS S-3 INCORPORATIONOFCERTAININFORMATIONBYREFERENCE2 S- RISKFACTORS S-10 THEOFFERING7 S- DESCRIPTIONOFNOTES S-15 USEOFPROCEEDS14 UNDERWRITING S-43 S-ADDITIONALU.S.FEDERALINCOMETAXCONSIDERATIONSFORNON-U.S.HOLDERS40 S- EXPERTS S-50 LEGALMATTERS49 WHEREYOUCANFINDMOREINFORMATION S-50 ABOUTTHISPROSPECTUS1 Page CAUTIONARYSTATEMENTREGARDINGFORWARD-LOOKINGSTATEMENTS4 INCORPORATIONOFCERTAININFORMATIONBYREFERENCE3 GUARANTORDISCLOSURES7 SUMMARY6 DESCRIPTIONOFCAPITALSTOCK9 USEOFPROCEEDS8 1 UNITEDSTATESFEDERALINCOMETAXCONSIDERATIONS 2 3 DESCRIPTIONOFDEBTSECURITIES2 4 LEGALMATTERS 4 7 PLANOFDISTRIBUTION5 4 WHEREYOUCANFINDMOREINFORMATION4 EXPERTS7 8 TheIssuers,theParentandtheunderwritershavenotauthorizedanyonetoprovideyouwithanyinformationthatisnotcontainedorincorporatedbyreferenceinthisprospectussupplement,theaccompanyingprospectusandanypermittedfreewritingprospectus.TheIssuers,theParentandtheunderwriterstakenoresponsibilityfor,andcanprovidenoassurancesastothereliabilityof,anyotherinformationthatothersmaygiveyou.TheIssuersandtheunderwritersareofferingtosellthenotesonlyinjurisdictionswhereoffersandsalesarepermitted.Youshouldnotassumethattheinformationcontainedinthisprospectussupplement,theaccompanyingprospectusoranypermittedfreewritingprospectusisaccurateasofanydateotherthanthedateonthefrontcoverofthisprospectussupplementortheaccompanyingprospectus,orthedateofanysuchpermittedfreewritingprospectus,asthecasemaybe,orthattheinformationincorporatedbyreferencehereinorthereinisaccurateasofanydateotherthanthedateofthereleva