RAIT Financial Trust reports plans for public offering of stock

Deal consists of 6.95 million shares, greenshoe of 1,042,500 shares

By Devika Patel

Knoxville, Tenn., March 5 - RAIT Financial Trust said it plans to price a public sale of stock with a 30-day greenshoe.

The company will sell 6.95 million common shares, with 1,042,500 shares allotted for the greenshoe.

Deutsche Bank Securities is the bookrunning manager.

Proceeds will be used to make investments and for general corporate purposes.

RAIT is a Philadelphia-based manager of real estate related assets and provider of debt financing options to the real estate industry.

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