Chief Financial Officer
Resource America, Inc.
1521 Locust Street-4th Floor
Philadelphia, PA 19102
215/546-5005, 215/546-5388 fax
RESOURCE AMERICA, INC. ANNOUNCES COMPLETION OF STOCK OFFERING AND CASH DIVIDEND
Philadelphia, PA, 5/1/2022 - Resource America, Inc.
(NASDAQ:REXI) (the "Company") announces the completion of an underwritten offering of 1,978,044 shares of common stock that raised $127.1 million.
The Company also announces that its Board of Directors has authorized the payment on May 29th, 1998 of a quarterly cash dividend in the amount of $. 10 per share of the Company's common stock to all holders of record at the close of business on May 15, 1998. The company currently has approximately 6,475,000 shares of common stock outstanding.
Resource America, Inc. is a specialty finance company principally engaged in real estate finance and equipment leasing. Within real estate finance, the Company has developed a commercial mortgage loan acquisition and resolution business and a residential mortgage lending business. The Company also has sponsored a real estate investment trust and currently owns 15% of the trust's common shares of beneficial interest. Within its equipment leasing business,
the Company focuses primarily of small ticket equipment lease financing. It also manages five publicly owned equipment leasing partnerships and has a lease finance placement and advisory business.