NEW YORK, NY -- (Marketwired) -- 03/15/16 --
Resource Capital Corp. (NYSE: RSO) (the "Company") announced today that its Board of Directors has approved a new securities repurchase program for up to $50 million of its outstanding securities, of which approximately $16.5 million remains available under the Company's current securities repurchase program.
Repurchases may be made from time to time through open market purchases or privately negotiated transactions, at the discretion of management 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 and other factors. There is no guarantee as to the exact number of securities that will be repurchased by the Company, and the Company may discontinue purchases at any time.
RSO is a real estate investment trust that is primarily focused on originating, holding and managing commercial mortgage loans and other commercial real estate-related debt and equity investments. The Company is also active in commercial finance, including through Northport Capital, its middle market lending platform. The Company is externally managed by Resource Capital Manager, Inc., an indirect wholly-owned subsidiary of Resource America, Inc. (NASDAQ: REXI), an asset management company that specializes in real estate and credit investments.
For more information, please visit the Resource Capital Corp. website at www.resourcecapitalcorp.com or contact investor relations at firstname.lastname@example.org.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements can generally be identified by our use of forward-looking terminology such as "may," "trend", "will," "continue," "expect," "intend," "anticipate," "project," "estimate," "believe," "look forward" or other similar words or terms. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from the expectations, intentions, beliefs, plans or predictions of the future expressed or implied by such forward-looking statements. Factors that can affect future results are discussed in the documents filed by Resource Capital Corp. from time to time with the Securities and Exchange Commission. Resource Capital Corp. undertakes no obligation to update or revise any forward-looking statement to reflect new or changing information or events after the date hereof or to reflect the occurrence of unanticipated events, except as may be required by law.
Resource Capital Corp.
Source: Resource Capital Corp.