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RAIT Financial Trust Announces Full Exercise of Underwriters’ Option


Tuesday, 2 Apr 2013 08:00am EDT 

RAIT Financial Trust announced the exercise of the underwriters' option to purchase 1,200,000 of the Company's common shares. The option was exercised in connection with the Company's recently announced underwritten public offering which priced on March 28, 2013. Including the shares sold in connection with the underwriters option, a total of 9,200,000 common shares were sold at a price to the public of $7.87 per share. Total net proceeds to the Company from the offering, after deducting the underwriting discount and estimated offering expenses, will be approximately $69.9 million. The offering is expected to close on April 3, 2013. RAIT intends to use the 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. Compass Point, JMP Securities and Ladenburg Thalmann & Co. Inc. are acting as the co-managers of the offering. 

Company Quote

7.69
-0.02 -0.26%
19 Sep 2014