Safehold, iStar complete merger

Safehold (SAFE) closed on the previously announced merger of iStar (STAR) and Safehold. The merger represents the culmination of the companies’ multi-year strategy to grow the innovative ground lease ecosystem. Following the closing, the combined company SAFE will operate under the name Safehold Inc. and its common stock will trade under the ticker "SAFE" on the New York Stock Exchange. On March 31, prior to the closing of the merger, iStar completed the separation of its legacy assets and certain other assets through the distribution of all of the common shares of Star Holdings (STHO) to holders of record of iStar common stock as of the close of business on March 27 in a spin-off transaction. iStar distributed 0.153 common shares of Star Holdings for each share of iStar common stock.