PHILADELPHIA -- (Business Wire)
RAIT Financial Trust (NYSE:RAS), announced today that the underwriters
exercised, in full, the option related to RAIT’s public offering of 9.0
million common shares that closed on December 21, 2012 and which raised
net proceeds of $49.0 million for RAIT, after payment of the
underwriting discount and estimated offering expenses. The option covers
an additional 1,350,000 common shares and is expected to generate
additional net proceeds of approximately $7.4 million. The option
closing is scheduled for Wednesday, January 16, 2013. RAIT intends to
use the additional net proceeds to make investments relating to its
business and for general corporate purposes.
Deutsche Bank Securities and Barclays are acting as the joint
book-running managers of the offering.
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 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
or Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, NY, 11717, Telephone: (888) 603-5847, or by
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.
Certain items in this press release may constitute forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995, which can be identified by words like "expect,"
"intend" and similar expressions. These statements are based on
management's current expectations and beliefs and are subject to a
number of trends and uncertainties that could cause actual results to
differ materially from those described in the forward-looking
statements; the Company can give no assurance that its expectations will
be attained. Forward-looking statements are necessarily speculative in
nature, and it can be expected that some or all of the assumptions
underlying any forward-looking statements will not materialize or will
vary significantly from actual results. Variations of assumptions and
results may be material. Factors that could cause actual results to
differ materially from the Company's expectations include, but are not
limited to, changes in economic conditions generally and the real estate
and bond markets specifically, the closing of the issuance and sale of
the option shares described in this press release and the use of
proceeds from the sale of such common shares. Factors that could cause
actual results to differ materially from those in the forward-looking
statements are specified in the Company's Annual Report on Form 10-K for
the year ended December 31, 2011, and its other filings with the SEC.
Such forward-looking statements speak only as of the date of this press
release. The Company expressly disclaims any obligation to release
publicly any updates or revisions to any forward-looking statements
contained herein to reflect any change in its expectations with regard
thereto or change in events, conditions or circumstances on which any
statement is based.
RAIT Financial Trust
Andres Viroslav, 215-243-9000
Source: RAIT Financial Trust
© 2018 Canjex Publishing Ltd. All rights reserved.