RAIT Financial Trust Commences Offering of Series C Cumulative Redeemable Preferred Shares 
PHILADELPHIA, PA (REIT Media) June 25, 2007 - RAIT Financial Trust (NYSE:RAS) today announced that it has commenced an underwritten public offering of a new series of cumulative redeemable preferred shares. Each new Series C Preferred Share will have a liquidation preference of $25.00 per share. Bear, Stearns & Co. Inc. will act as the sole book-running manager of the offering. Piper Jaffray, RBC Capital Markets and Stifel, Nicolaus are co-lead managers and Friedman Billings Ramsey is co-manager of the offering. The underwriters are expected to be granted a 30-day over-allotment option to purchase additional Series C Cumulative Redeemable Preferred Shares to cover over-allotments. RAIT plans to use the net proceeds from this offering for general trust purposes.
The offering will be made solely by means of a prospectus supplement and the accompanying prospectus, copies of which may be obtained by contacting Bear, Stearns & Co. Inc., ATTN: Prospectus Department, 1 Metrotech Center North, 5th Floor, Brooklyn, NY 11201.
This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall 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.
About RAIT Financial Trust
RAIT Financial Trust ("RAIT"), a real estate investment trust ("REIT"), originates secured and unsecured credit facilities including bridge and mezzanine loans, preferred equity investments, trust preferred securities and subordinated debt for private and corporate owners of commercial real estate, REITs and real estate operating companies and their intermediaries throughout the United States and Europe.
Source: RAIT Financial Trust
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Jun.25.2007. 17:26
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