PreferredStockChannel
Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Tue, April 23, 8:06 AM
| This Slide: #599 of 620 |
Slide #599. Resource Capital Corp. — Preferred Stock Offering
Company:
Resource Capital Corp. (RSO)
Date announced:
9/24/2012
Shares Offered:
1,000,000
Date of Pricing:
9/26/2012
Price Per Share:
$25
Preferred Stock Offering Details:
Resource Capital Corp. announced 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. --updated 9/26/12 -- Resource Capital Corp. announced 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.
Resource Capital is a real estate investment trust. Co. originates, holds and manages commercial mortgage loans and other commercial real estate-related debt investments. Co. invests in the following asset classes: commercial real estate-related assets such as first mortgage loans, first priority interests in first mortgage loans, and subordinated interests in first mortgage loans; residential real estate-related assets such as residential mortgage loans and residential mortgage-backed securities; and commercial finance assets such as asset-backed securities, structured note investments, syndicated corporate loans, and preferred equity investment in a commercial leasing enterprise.
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Avg. Broker Rec.
 
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Buy (3.00 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com |
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