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RAIT Financial Trust
Ticker Symbol: RASFQ* CUSIP: 749227609 Previous CUSIP: 749227104 Exchange: OTOTC
* NOTE: This security is no longer trading as of 3/27/2020
Company's Online Profile
BUSINESS: RAIT Financial Trust is an internally-managed real estate investment trust (REIT) that provides debt financing options to owners of commercial real estate and invests directly into commercial real estate properties located throughout the United States. In addition, RAIT is an asset and property manager of real estate-related assets.
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Find All Related Securities for RASFQ*
Notes: August 30, 2019 -- RAIT Financial Trust (OTC Pink: RASF)today announced that it has into entered into an Equity and Asset Purchase Agreement to sell substantially all of its assets to an entity owned by funds managed by affiliates of Fortress Investment Group LLC in a sale process under Section 363 of the United States Bankruptcy Code, as amended. In addition, RAIT also announced that it has commenced voluntary proceedings for relief under chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware for it and certain of its subsidiaries to facilitate the sale process. RAIT plans to file a motion with the Bankruptcy Court seeking approval of bid procedures in connection with the sale to Fortress. The sale and bid procedures will provide for notice to be given to third parties of the pending sale to Fortress and offer the opportunity for interested parties to submit higher and better bids for RAIT’s assets or propose an alternative transaction. Once the bid procedures have been approved by the Bankruptcy Court, RAIT will initiate the formal bidding process, and at such time interested parties will be able to obtain more information on the bidding process. Following the chapter 11 filing, RAIT will continue to operate as a “debtor-in-possession” under the jurisdiction of the Bankruptcy Court. RAIT expects to file a number of first day motions with the Bankruptcy Court that, among other things, will seek authorization to continue the operations of RAIT in the ordinary course of business during the sale process. RAIT expects to receive court approval for these requests.
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Previous Ticker Symbol: RASF Changed: 9/04/2019
Previous Name: RAIT Investment Trust Changed: 12/11/2006
Mid Cap Stock -
Market Value $630.0 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: Two Logan Square, 100 N. 18th Street, 23rd Floor, Philadelphia, PA 19104 |
| Main Phone Number |
215-207-2100 |
| Fax Number |
Not Available |
| Investor Relations
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215-207-2100
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Toll Free Phone Number |
Unknown |
| CEO - John J. Reyle |
CFO - Alfred J. Dilmore |
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