Resource America, Inc.
1521 Locust St. - 5th Floor
Philadelphia, PA 19102
(215) 546-5388 (facsimile)
Resource America Authorizes New Buyback of Securities
Philadelphia, PA, January 2, 2022 - Resource America, Inc. (NASDAQ:REXI) (the "Company") announced that its Board of Directors has authorized a new repurchase program by the Company of up to $50 million of its corporate securities.
Since September 1998, the Company has repurchased approximately $101.6 million of its securities, including approximately $39.6 million in face amount of 12% Senior Notes and approximately 6.8 million shares of Company common stock.
The Company currently has outstanding approximately 17.4 million shares of its common stock, and approximately $75.4 million in face value of its 12% Senior Notes.
Repurchases may be made from time to time through open market purchases or privately negotiated transactions at the discretion of the Company and in accordance with the rules of the Securities and Exchange Commission, as applicable. The amount and timing of any repurchases will depend on market conditions.
Resource America, Inc. operates businesses in energy and real estate finance.