Resource Capital to conduct at-the-market offering of preferred stock

Funds to be used for general corporate purposes

By Devika Patel

Knoxville, Tenn., Dec. 17 - Resource Capital Corp. negotiated an at-the-market issuance sales agreement with Resource Capital Manager, Inc. and MLV & Co. LLC on Dec. 17, according to a prospectus supplement and 8-K filed Tuesday with the Securities and Exchange Commission.

The offering will consist of up to 600,000 8.5% series A cumulative redeemable preferreds and up to 1.4 million 8.25% series B cumulative redeemable preferreds. The preferreds may be redeemed after Oct. 2, 2017.

Proceeds will be used for general corporate purposes.

Resource Capital is a New York-based specialty finance company that focuses on commercial real estate assets, commercial mortgage-backed securities and commercial finance. It is organized as a real estate investment trust.

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