Business News • MarketWire • Resource Capital Corp. Prices Public Common Stock Follow-On Offering |
Resource Capital Corp. Prices Public Common Stock Follow-On Offering |
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Resource Capital Corp. Prices Public Common Stock Follow-On Offering
PHILADELPHIA, PA--(Marketwire - May 19, 2010) - Resource Capital Corp. (NYSE: RSO) (the "Company") announced today that it has priced a public offering of 7,500,000 shares of its common stock at $5.25 per share. Proceeds to the Company, after the underwriting discount but before expenses, will be approximately $37.2 million. Deutsche Bank Securities Inc. and J.P. Morgan Securities Inc. acted as joint book-running managers for this offering. FBR Capital Markets & Co. and JMP Securities LLC acted as co-managers. The underwriters have a 30-day option to purchase up to an additional 1,125,000 shares of the Company's common stock to cover over-allotments, if any. The full exercise of this over-allotment would generate additional net proceeds of approximately $5.6 million, after underwriting discounts but before expenses. Subject to customary conditions, the offering is expected to close on or about May 25, 2010.
View More : http://www.marketwire.com/mw/release.do?id=1263709&sourceType=3
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