RAIT Financial Trust (NYSE:RAS) Files An 8-K Entry into a Material Definitive AgreementItem 1.01
On March30, 2018, the Libby Frischer Family Partnership (the “Investor”) and RAIT Financial Trust (“RAIT”) signed a letter (the “Letter”) which provided that RAIT would exempt (the “Exemption”) the Investor from the ownership limit contained in RAIT’s Declaration of Trust providing that no person may own more than 8.3% of our outstanding common shares (“Common Shares”). The Exemption exempts the Investor from this ownership limit for holding Common Shares that the Investor intends to purchase on or after the date of the Letter in an amount which, when added to the Common Shares owned by Charles F. Frischer and certain affiliated entities of Mr.Frischer at the time of any such acquisition, does not exceed an amount equal to 12.5% of the outstanding Common Shares. Mr.Frischer is the general partner of the Investor and has filed Statements of Beneficial Ownership on Schedule 13D on March2, 2018 and March12, 2018 regarding his beneficial ownership of the Common Shares and RAIT’s 7.75% Series A Cumulative Redeemable Preferred Shares of Beneficial Interest, 8.375% Series B Cumulative Redeemable Preferred Shares of Beneficial Interest and 8.875% Series C Cumulative Redeemable Preferred Shares of Beneficial Interest. The above summary of the Letter does not purport to be complete and is qualified in its entirety by the Letter attached to this Current Report on Form 8-K as Exhibit 10.1 and incorporated by reference herein.
| Item 1.01 | Financial Statements and Exhibits |
(d) Exhibits.
RAIT Financial Trust ExhibitEX-10.1 2 d560953dex101.htm EX-10.1 EX-10.1 Exhibit 10.1 LIBBY FRISCHER FAMILY PARTNERSHIP as of March 30,…To view the full exhibit click here
About RAIT Financial Trust (NYSE:RAS)
RAIT Financial Trust (RAIT) is a self-managed and self-advised real estate investment trust (REIT). RAIT uses its vertically integrated platform and relationships to originate commercial real estate loans, acquire commercial real estate properties and invest in, manage and service commercial real estate assets. The Company’s segments are real estate lending, owning and managing segment, Independence Realty Trust, Inc. (IRT) segment and Taberna Securitization segment. The Company’s real estate lending, owning and managing segment concentrates on lending, owning and managing commercial real estate assets throughout the United States. The Company’s IRT segment concentrates on the ownership of apartment properties in opportunistic markets throughout the United States. The Company’s Taberna Securitization segment includes the ownership and management of approximately three real estate trust preferred securitizations.
