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RAIT Financial Trust Message Board

  • davisfoulger davisfoulger Mar 28, 2013 8:38 AM Flag

    Secondary prices at $7.87; offering increased to 8 Million Shares

    The upsizing of the offering by a million shares is a clear indication that demand for the new offering is already in place. I don't see the exact numbers yet, but RAS should collect upwards of $58M from the offering.

    NCT successfully upsized an offering earlier this year.

    I'm sure there are those who will disagree, but I expect that RAS will use a large portion of the proceeds to finance the unrated tranch of a new RAIT securitization.

    I would not be surprised if RAS used some of the proceeds to pay down debt.

    Investors should take the secondary as an indication that RAS has had great success in writing bridge loans during 1Q and that it anticipates strong loan writing in 2Q.

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3.370.00(0.00%)Sep 23 4:02 PMEDT