Contact Information: Contact: Jeffrey F. Brotman Executive Vice President Resource America, Inc. One Crescent Drive, Suite 203 Philadelphia, PA 19112 215/546-5005 215/465-0600 (fax)
Resource America, Inc. Announces RAI Acquisition Corp. Files Registration Statement for Initial Public Offering
| Source: Resource America, Inc.
PHILADELPHIA, PA--(Marketwire - January 7, 2008) - Resource America, Inc. (NASDAQ : REXI )
announced today that a registration statement on Form S-1 has been filed
with the Securities and Exchange Commission for an initial public offering
of units of RAI Acquisition Corp., a newly incorporated special purpose
acquisition corporation formed for the purpose of acquiring one or more
businesses, seeking to raise $250 million for RAI Acquisition Corp. in an
offering to be underwritten by J.P. Morgan Securities Inc.
RAI Acquisition Corp. is proposing to offer to sell 25,000,000 units,
consisting of one share of common stock and one warrant to purchase one
share of common stock per unit, at an offering price of $10.00 per unit.
The net proceeds of the offering will be held in trust pending the
completion of an acquisition. The timing of the offering is subject to
market conditions, regulatory approvals and certain other conditions.
Resource America is a specialized asset management company that uses
industry specific expertise to generate and administer investment
opportunities for its own account and for outside investors in the
commercial finance, financial fund management and real estate sectors. For
more information about Resource America, Inc., please visit its website at
www.resourceamerica.com or email Investor Relations at
pkamdar@resourceamerica.com.
A registration statement relating to these securities has been filed with
the Securities and Exchange Commission but has not yet become effective.
These securities may not be sold, nor may offers to buy be accepted prior
to the time the registration statement becomes effective. Interested
parties may obtain copies of the preliminary prospectus relating to the
offering by contacting J.P. Morgan Securities Inc., 4 Chase Metrotech
Center, CS Level, Brooklyn, NY 11245, Attention: Prospectus Department;
telephone: (718) 242-8002, or email at addressing.services@jpmorgan.com.