InPoint Commercial Real Estate Income, Inc.Announces Completion of Its Preferred Share Offer

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OAK BROOK, Illinois – (COMMERCIAL THREAD) – InPoint Commercial Real Estate Income, Inc., a Maryland company (the “Company”), today announced the completion of its take-over bid for 3,500,000 shares of its series cumulative redeemable preferred shares A at 6.75%, with a par value of $ 0.001 per share (the “Series A Preferred Shares”) at a public offering price of $ 25.00 per share. The Company has decided to expand the offer after the marketing period in order to meet the strong demand from potential investors. In addition, the Company has granted the underwriters a 30-day option to purchase an additional 525,000 shares of the Series A preferred shares to cover over-allotments, if any. The Series A preferred shares have a liquidation preference of $ 25.00 per share. The Company will receive gross proceeds of $ 87.5 million (or approximately $ 100.6 million if the underwriters exercise their over-allotment option in full) from the sale of the Series A preferred shares, before deduction of subscription discounts and other estimated offering costs.

The Company intends to pay the net proceeds of the offering to its operating partnership, InPoint REIT Operating Partnership, LP, which in turn intends to use the net proceeds to acquire its targeted assets from in a manner consistent with its investment strategies and investment guidelines and for general corporate purposes.

The Series A preferred shares have been approved for listing on the New York Stock Exchange under the symbol “ICR PR A” and trading is expected to commence on or about September 23, 2021.

Raymond James & Associates, Inc. acted as sole accounting manager.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, and there will be no sale of the Series A preferred shares referred to in this press release in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state or jurisdiction. A registration statement relating to the Series A Preferred Shares has been filed and has been declared effective by the Securities and Exchange Commission (the “SEC”).

The offer will be made only by means of a prospectus. Copies of the preliminary prospectus relating to the offering may be obtained free of charge by visiting the SEC’s website at www.sec.gov or can be obtained from Raymond James at the attention of: Equity Syndicate, 880 Carillon Parkway, St. Petersburg, FL 33716, by telephone at (800) 248-8863. The prospectus contains a description of these matters and other important information about the Company and should be read carefully before investing.

About InPoint Commercial Real Estate Income, Inc.

InPoint Commercial Real Estate Income, Inc. is a commercial mortgage real estate investment trust that seeks to create, acquire and manage a diversified credit portfolio secured by commercial real estate properties primarily in the United States.

Caution Regarding Forward-Looking Statements

This press release contains forward-looking statements about the business of the Company, including, in particular, statements about the plans, strategies and objectives of the Company and the public offering of its preferred shares. You can generally identify forward-looking statements by the Company’s use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “anticipate”, “estimate”. “,” Believe “,” continue “or other similar words. These statements include the plans and objectives of the Company for future operations, including plans and objectives relating to future growth and availability of funds, and are based on current expectations which involve numerous risks and uncertainties. Assumptions relating to these statements involve judgments concerning, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict with precision and many of which are beyond the control of the Company. Although the Company believes that the assumptions underlying forward-looking statements, and the forward-looking statements themselves, are reasonable, any of the assumptions could be inaccurate and, therefore, there can be no assurance that such forward-looking statements prove to be accurate and the actual results, performance and achievements of the Company may differ materially from those expressed or implied by such forward-looking statements. In light of the material uncertainties inherent in these forward-looking statements, the inclusion of this information should not be construed as a statement by the Company or any other person that the objectives and plans of the Company, which it considers reasonable, will be. achieved. Factors that could cause actual results to differ materially from the Company’s expectations include, without limitation, risks and uncertainties relating to the application of the intended use of the proceeds of the offering, under the terms of the market, changes in economic conditions in general and the markets in particular.

You should carefully review the “Risk Factors” section of the Company’s prospectus, which is included in the Company’s registration statement on Form S-11 (File No. 333-258802) filed with the SEC, as well as the risk factors set out in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, as filed with the SEC on March 19, 2021, and the Company’s Quarterly Report on Form 10 -Q for the quarter ended March 31, 2021, as filed with the SEC on May 14, 2021, for a discussion of the risks and uncertainties that the Company considers material to its business, results of operations, prospects and financial situation. Except as otherwise provided by federal securities laws, the Company does not undertake to update or revise any forward-looking statements publicly, whether as a result of new information, future events or otherwise.


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