Market Overview

Resource Capital Announces Public Offering of Series B Preferred Stock


Resource Capital Corp. (NYSE: RSO) announced today that it has commenced an underwritten public offering of a newly-designated series of preferred stock, Series B Cumulative Redeemable Preferred Stock. The Company intends to grant the underwriters a 30-day option to purchase additional shares of Series B Preferred Stock. The Company has applied to list the Series B Preferred Stock on the New York Stock Exchange. Deutsche Bank Securities, Credit Suisse Securities (USA) LLC, JP 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.

The offering will be made pursuant to the Company's existing effective shelf registration statement, previously filed with the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

Posted-In: News Offerings


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