Published on 10/1/2009 in the Prospect News High Yield Daily, Prospect News PIPE Daily and Prospect News Private Placement Daily.
New Issue: Resource America wraps $15.57 million sale of 12% senior notes due 2012
By Devika Patel
Knoxville, Tenn., Oct. 1 - Resource America, Inc. completed a $15.57 million private placement of 12% senior notes due 2012 on Sept. 29, according to an 8-K filed Thursday with the Securities and Exchange Commission. The deal priced on Sept. 24.
Investors also received warrants for 3,052,940 shares, which are each exercisable at $5.10 for five years.
Resource America is a Philadelphia-based asset management company.
| Issuer: | Resource America, Inc.
|
| Issue: | Senior notes
|
| Amount: | $15.57 million
|
| Maturity: | 2012
|
| Coupon: | 12%
|
| Price: | Par
|
| Yield: | 12%
|
| Warrants: | For 3,052,940 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $5.10
|
| Pricing date: | Sept. 24
|
| Settlement date: | Sept. 29
|
| Stock symbol: | Nasdaq: REXI
|
| Stock price: | $5.08 at close Sept. 24
|
| Market capitalization: | $85.3 million
|
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