NEW YORK, NY -- (Marketwired) -- 10/30/13 -- Resource Capital Corp. (NYSE: RSO) (the "Company") announces the full exercise and closing of the underwriters' option to purchase an additional $15.0 million aggregate principal amount of the Company's 6.00% Convertible Senior Notes due 2018 (the "Notes") in connection with the Company's recent underwritten public offering. Including the Notes sold in connection with the underwriters' option, the Company has sold a total of $115.0 million aggregate principal amount of Notes for total net proceeds to the Company of approximately $111.1 million after deduction of underwriting discounts and commissions and estimated offering expenses. J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC acted as joint book-running managers for the offering. Keefe, Bruyette & Woods, Inc. acted as the senior co-manager for the offering and JMP Securities LLC and MLV & Co. LLC acted as co-managers for the offering. The Company intends to use the net proceeds from this offering for general corporate purposes, including acquisition of investments, loan originations and working capital.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy the Notes, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.
A registration statement relating to the Notes has been declared effective by the Securities and Exchange Commission ("SEC"). The offering was 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: J.P. Morgan Securities LLC, via telephone at (866) 803-9204 or by mail at Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717; or Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014.
About Resource Capital Corp.
Resource Capital Corp. ("RSO") is a real estate investment trust that is primarily focused on originating, holding and managing commercial mortgage loans and other commercial real estate-related debt and equity investments. RSO also makes other commercial finance investments.
RSO is externally managed and advised by an indirect wholly owned subsidiary of Resource America, Inc. (NASDAQ: REXI), a specialized asset management company.
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 SEC. Resource Capital Corp. undertakes no obligation to update or revise any forward-looking statement to reflect new or changing information or events.
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