Exantas Capital Corp | 8.25% Series B Cumulative Redeemable Preferred Stock (RSO.PRB)
This preferred is marked as having been called.
Prospectus excerpt: 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. 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. 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.
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.