Underwriters Exercise Over-Allotment Option in Walker & Dunlop Initial Public Offering

BETHESDA, Md., Jan. 18, 2011 /PRNewswire/ -- Walker & Dunlop, Inc. (NYSE: WD) (the "Company") announced today that the underwriters have exercised 221,292 shares of their over-allotment option at the initial public offering price, less underwriting discounts and commissions. The over-allotment option was granted by the Company in connection with its initial public offering of 10,000,000 shares of common stock at $10.00 per share, which closed on December 20, 2010.  The Company offered 6,666,667 shares of common stock and selling stockholders offered 3,333,333 shares.  With the addition of the over-allotment, net of selling stockholders, the Company sold 6,887,959 shares.  Aggregate proceeds to the Company from the initial public offering, net of underwriting discounts and commissions and estimated expenses, are expected to be $60.6 million.  The sale of the additional shares is expected to close on January 19, 2011.

Credit Suisse Securities (USA) LLC, Keefe, Bruyette & Woods, Inc. and Morgan Stanley & Co. Incorporated acted as joint book-running managers of the initial public offering. William Blair & Company, L.L.C., JMP Securities LLC and Stifel, Nicolas & Company, Incorporated acted as co-managers. The initial public offering was made only by means of a prospectus. Copies of the final prospectus may be obtained by contacting Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, New York 10010, or by calling 1-800-221-1037; Keefe, Bruyette & Woods, Attention: Prospectus Department, 787 Seventh Avenue, 4th Floor, New York, New York 10019, or by calling 1-800-966-1559; or Morgan Stanley & Co. Incorporated, Attention: Prospectus Department, 180 Varick Street, New York, New York 10014, email: [email protected], or by calling 1-866-718-1649. The final prospectus also may be obtained on the Securities and Exchange Commission's Web site at http://www.sec.gov.

A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission on December 13, 2010. This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the laws of any such state or jurisdiction.

About Walker & Dunlop

Through its subsidiary Walker & Dunlop, LLC, Walker & Dunlop, Inc. (NYSE: WD) is one of the leading providers of commercial real estate financial services in the United States, with a primary focus on multifamily lending. The Multifamily and FHA Finance groups of Walker & Dunlop are focused on lending to property owners, investors, and developers of multifamily properties across the country. As a Fannie Mae DUS™, Freddie Mac Program Plus® and Map- and Lean-approved FHA lender, Walker & Dunlop lends on most major multifamily asset classes including market-rate apartments, affordable apartments, manufactured housing communities, seniors housing, student housing and certain healthcare facilities. The Capital Markets and Investment Services groups of Walker & Dunlop provide a broad range of advisory, financing, investment consulting and related services.  

SOURCE Walker & Dunlop

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