RAIT Financial Trust (NYSE:RAS) (the "Company") announced today the pricing and upsizing of its underwritten public offering of 8,000,000 common shares at a public offering price of $7.87 per share. The offering was increased by 1,000,000 shares from the originally announced offering of 7,000,000 shares. The Company has granted the underwriters a 30-day option to purchase up to 1,200,000 additional common shares. The offering is expected to close on April 3, 2013.
Deutsche Bank Securities and Barclays are acting as the joint book-running managers of the offering.
The Company intends to use the net proceeds of the offering to make investments relating to its business and for general corporate purposes.
A registration statement relating to the offered securities has been declared effective by the Securities and Exchange Commission ("SEC"). The offering is being made only by means of a prospectus supplement and accompanying base prospectus. Copies of the prospectus supplement and the related prospectus for the offering, when available, may be obtained by contacting: Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall Street, New York, NY 10005-2836, by calling (800) 503-4611, or by emailing email@example.com or Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, Telephone: (888) 603-5847, or by emailing firstname.lastname@example.org.This press release shall not constitute an offer to sell or a solicitation of an offer to buy the shares, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. About RAIT Financial Trust RAIT Financial Trust is an internally-managed real estate investment trust that provides debt financing options to owners of commercial real estate and invests directly into commercial real estate properties located throughout the United States. In addition, RAIT is an asset and property manager of real estate-related assets.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts