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Slideshow Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Sunday, February 26, 11:44 AM

Slide #321. Resource Capital Corp. Preferred Stock Offering

Company: Resource Capital Corp. (NYSE: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. focuses on commercial real estate, and commercial real estate-related assets and, to a lesser extent, commercial finance assets. Co. invests in the following asset classes: commercial real estate-related assets such as commercial real estate primarily multifamily properties, whole loans, A-notes, B-notes, mezzanine debt, commercial mortgage-backed securities and Residential mortgage loans as well as commercial finance assets such as bank loans, collateralized debt obligations and asset-backed securities. Co. is externally managed by Resource Capital Manager, Inc., a subsidiary of Resource America, Inc., an asset management company.

Preferreds: RSO.PRA, RSO.PRB, RSO.PRC


Open the RSO Page at Preferred Stock Channel »

Name:  Resource Capital Corp
Website:  www.resourcecapitalcorp.com
Sector:  REITs
Number of ETFs Holding RSO:  22 (see which ones)
Total Market Value Held by ETFs:  $22,402,737
Total Market Capitalization:  $264,000,000
% of Market Cap. Held by ETFs:  8.49%
 

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