RAIT Financial Trust (RAS) said Wednesday that it has commenced an underwritten public offering of 7 million common shares.
The company expects to grant the underwriters a 30-day option to purchase up to 1.05 million additional common shares.
Deutsche Bank Securities and Barclays are acting as the joint book-running managers of the offering.
The company said it plans to use the net proceeds of the offering to make investments relating to its business and for general corporate purposes.
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