NEW YORK, NY, Mar 24, 2011 (MARKETWIRE via COMTEX) --
Resource Capital Corp. (NYSE: RSO) (the "Company") today announced that it is offering 6.0 million shares of its common stock in an underwritten public offering. The underwriter will have a 30-day option from the date of the offering to purchase up to an additional 900,000 shares from Resource Capital Corp. to cover over-allotments, if any. Resource Capital Corp. intends to use the net proceeds from this offering for new investments and general corporate purposes.
Deutsche Bank Securities is acting as sole book-running manager for the offering. The public offering will be made only by means of a base prospectus and related prospectus supplement, copies of which may be obtained, when available, from Deutsche Bank Securities Inc., Attention: Prospectus Department, Harborside Financial Center, 100 Plaza One, Jersey City, New Jersey, 07311-3988, telephone (800) 503-4611, or by e-mailing prospectus.cpdg@db.com.
The common stock will be offered pursuant to an effective registration statement filed with the Securities and Exchange Commission. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Resource Capital Corp.
Resource Capital Corp. is a commercial real estate specialty finance company that qualifies as a real estate investment trust, or REIT, for federal income tax purposes. Resource Capital Corp.'s investment strategy focuses on commercial real estate-related assets and, to a lesser extent, higher-yielding commercial finance assets. The Company invests in the following asset classes: commercial real estate-related assets such as whole loans, A-notes, B-notes, mezzanine loans and commercial mortgage-related securities and investments in real estate joint ventures as well as commercial finance assets such as bank loans, lease receivables, other asset backed securities, trust preferred securities, and debt tranches of collateralized debt obligations, structured note investments and private equity investments principally issued by financial institutions.
Resource Capital Corp. is externally managed by Resource Capital Manager, Inc., an indirect wholly owned subsidiary of Resource America, Inc. (NASDAQ: REXI), a specialized asset management company that uses industry specific expertise to generate and administer investment opportunities for its own account and for outside investors in the real estate, commercial finance and financial fund management sectors.
This press release includes statements that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond management's control. Factors that can affect future results are discussed in the documents filed by Resource Capital Corp. from time to time with the Securities and Exchange Commission. Resource Capital Corp. undertakes no obligation to update or revise any forward-looking statement to reflect new or changing information or events, except as may be required by applicable law or regulation.
Contact: Resource Capital Corp. www.resourcecapitalcorp.com Email Contact
SOURCE: Resource Capital Corp.
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