Resource Capital Corp. Announces Full Exercise of Option to Purchase Additional
Shares of Common Stock
NEW YORK, NY -- (Marketwired) -- 04/25/13 -- Resource Capital Corp.
(NYSE: RSO) (the "Company") announces the full exercise of the
underwriters' option to purchase an additional 2,437,500 shares of
common stock in connection with the Company's recently announced
public offering, with closing to take place on April 29, 2013.
Including the shares sold in connection with the underwriters'
option, the Company will have sold a total of 18,687,500 shares of
its common stock for total net proceeds of approximately $114.5
million after deduction of underwriting discounts and commissions and
estimated offering expenses. Deutsche Bank Securities and J.P. Morgan
Securities acted as the joint book-running managers of the offering.
The Company intends to use the net proceeds from the offering for
general corporate purposes.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities nor will there be any
sale of these securities in any state or other jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or other jurisdiction.
The offering of these securities will be made only by means of a
prospectus and related prospectus supplement, when available. Copies
of the prospectus and accompanying preliminary prospectus supplement
relating to these securities may be obtained by contacting Deutsche
Bank Securities Inc., Attn: Prospectus Group, 60 Wall Street, New
York, NY 10005-2836; email: prospectus.CPDG@db.com; Telephone: (800)
503-4611 or 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.
About Resource Capital Corp.
RSO is a diversified real estate finance company that is organized
and conducts its operations to qualify as a REIT for federal income
tax purposes. RSO's investment strategy focuses on commercial real
estate (CRE) assets, and, to a lesser extent, commercial finance
assets and other investments. RSO invests in the following asset
classes: CRE-related assets such as commercial real estat
whole loans, A-notes, B-notes, mezzanine loans, CMBS and investments
in real estate joint ventures as well as commercial finance assets
such as bank loans, lease receivables, other asset-backed securities,
corporate bonds, trust preferred securities, debt tranches of CDOs,
structured note investments, and private equity investments
principally issued by financial institutions.
RSO 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, financial fund management and commercial finance
For more information, please visit the Resource Capital Corp. website
at www.resourcecapitalcorp.com or contact investor relations at
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.
Resource Capital Corp.
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