Resource Capital Prices Public Offering of 8.25% Series B Cumulative Redeemable Preferred Stock
Resource Capital Corp. (NYSE: RSO) announced today that it has successfully priced its underwritten public offering of a newly-designated series of preferred stock, 8.25% Series B Cumulative Redeemable Preferred Stock ("Series B Preferred Stock"). The Company will sell 1,000,000 shares of the Series B Preferred Stock to the underwriters listed below at a public offering price of $25.00 per share. The Company has also granted the underwriters a 30-day option to purchase up to an additional 150,000 shares of Series B Preferred Stock on the same terms and conditions. Deutsche Bank Securities, Credit Suisse Securities (USA) LLC, J.P. Morgan and MLV & Co. are acting as joint book-runners and JMP Securities is acting as the lead manager for the offering. The Company intends to use the net proceeds from the offering to make investments relating to its business and for general corporate purposes.
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