JERNIGAN CAPITAL, INC. (NYSE:JCAP) Files An 8-K Other Events

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JERNIGAN CAPITAL, INC. (NYSE:JCAP) Files An 8-K Other Events

Item8.01.Other Events.

On April5, 2017, Jernigan Capital,Inc. (the Company) and Jernigan
Capital Operating Company, LLC (the Operating Company) entered
intoan Equity Distribution Agreement, dated April5, 2017 (the
Equity Distribution Agreement), by and among the Company, the
Operating Company, JCAP Advisors, LLC, the Companys external
manager, and Raymond James Associates, Inc. (Raymond James),
Jefferies LLC (Jefferies), Robert W. Baird Co., Incorporated
(Baird) and FBR Capital Markets Co. (together with Raymond James,
Jefferies and Baird, the Agents) in connection with the
commencement of an at-the-market continuous equity offering
program (the Program). to the terms and conditions of the Equity
Distribution Agreement, the Company may, from time to time, issue
and sell through or to the Agents, shares of its common stock,
$0.01 par value per share, having an aggregate offering price of
up to $50,000,000 (the Shares).

Sales of the Shares, if any, under the Equity Distribution
Agreement may be made in transactions that are deemed to be
at-the-market offerings as defined in Rule415 under the
Securities Act of 1933, as amended, including sales made directly
on the New York Stock Exchange or sales made to or through a
market maker. The Company has no obligation to sell any of the
Shares and the Company or any of the Agents may at any time
suspend the offering or terminate the Equity Distribution
Agreement to the terms of the Equity Distribution Agreement. The
actual sale of Shares under the Program will depend on a variety
of factors to be determined by the Company from time to time,
including, among other things, market conditions, the trading
price of the Companys common stock, capital needs and
determinations by the Company of the appropriate sources of
funding for the Company.

Each Agent will be entitled to a commission that will not exceed,
but may be lower than, 2.0% of the gross offering proceeds of
Shares sold through it as agent. Under the terms of the Equity
Distribution Agreement, the Company also may sell Shares to each
Agent as a principal, to a separate agreement, for its own
account at a price agreed upon in writing at the time of sale.

Each of the Agents has agreed, subject to the terms and
conditions of the Equity Distribution Agreement, to use its
commercially reasonable efforts consistent with its normal
trading and sales practices to execute any order that the Company
submits to it under the Equity Distribution Agreement at market
prevailing prices up to the amount specified and with respect to
which such Agent has agreed to act as the Companys agent.

The Company intends to contribute the net proceeds from the sale
of Shares under the Program to the Operating Company in exchange
for units of limited liability company interest in the Operating
Company. The Operating Company intends to use any net proceeds
from the sale of Shares under the Equity Distribution Agreement
to fund its investments and for general corporate purposes.

The Shares will be issued to the Companys effective shelf
registration statement on FormS-3 (File No.333-212049), and a
prospectus supplement relating to the Shares that was filed with
the Securities and Exchange Commission on April5, 2017. This
Current Report on Form8-K shall not constitute an offer to sell
or the solicitation of an offer to buy the Shares nor shall there
be any sale of the Shares 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.

A copy of the Equity Distribution Agreement is filed as Exhibit
1.1 tothis Current Report on Form8-K. The description of the
Equity Distribution Agreement does not purport to be complete and
is qualified in its entirety by reference to the copy of the
Equity Distribution Agreement filed as an exhibit to this Current
Report on Form8-K and incorporated herein by reference.

Item9.01.Financial Statements and Exhibits.

(d)Exhibits.

ExhibitNo.

Description

1.1 Equity Distribution Agreement, dated April 5, 2017, by and
among Jernigan Capital, Inc., Jernigan Capital Operating
Company, LLC, JCAP Advisors, LLC, and Raymond James
Associates, Inc., JefferiesLLC, Robert W. Baird Co.,
Incorporated and FBR Capital Markets Co.
5.1 Opinion of Morrison Foerster LLP regarding the legality of
shares.
8.1 Opinion of Morrison Foerster LLP regarding tax matters.
23.1 Consent of Morrison Foerster LLP (included in Exhibit5.1).
23.2 Consent of Morrison Foerster LLP (included in Exhibit8.1).


About JERNIGAN CAPITAL, INC. (NYSE:JCAP)

Jernigan Capital, Inc. is a commercial real estate finance company. The Company provides capital to private developers, owners and operators of self-storage facilities. It intends to generate long-term returns on development property investments through a fixed rate of interest on its invested capital together with an interest in the positive cash flows of the self-storage development from operations, sales and/or refinancings. It generates cash flows from construction loans and operating property loans in the form of a fixed interest rate and origination fees. It originates various loans, such as bridge loans and credit lines. It has development property investments in Orlando, Atlanta, Tampa, Chicago and Miami. Its operating property loans are located in New Orleans, Newark, Nashville, Sacramento and Chicago. The Company conducts its investment activities through Jernigan Capital Operating Company, LLC. The Company is externally managed and advised by JCap Advisors, LLC.

JERNIGAN CAPITAL, INC. (NYSE:JCAP) Recent Trading Information

JERNIGAN CAPITAL, INC. (NYSE:JCAP) closed its last trading session down -0.70 at 22.08 with 79,874 shares trading hands.