0001209191-12-053507.txt : 20121116
0001209191-12-053507.hdr.sgml : 20121116
20121116161659
ACCESSION NUMBER: 0001209191-12-053507
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20121115
FILED AS OF DATE: 20121116
DATE AS OF CHANGE: 20121116
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Silberstein Andrew Mark
CENTRAL INDEX KEY: 0001559072
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-14760
FILM NUMBER: 121211868
MAIL ADDRESS:
STREET 1: 1251 AVENUE OF THE AMERICAS
CITY: NEW YORK
STATE: NY
ZIP: 10020
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: RAIT Financial Trust
CENTRAL INDEX KEY: 0001045425
STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798]
IRS NUMBER: 232919819
STATE OF INCORPORATION: MD
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 1818 MARKET
STREET 2: 28TH FL
CITY: PHILADELPHIA
STATE: PA
ZIP: 19103
BUSINESS PHONE: 2158617900
MAIL ADDRESS:
STREET 1: 1818 MARKET
STREET 2: 28TH FL
CITY: PHILADELPHIA
STATE: PA
ZIP: 19103
FORMER COMPANY:
FORMER CONFORMED NAME: RAIT INVESTMENT TRUST
DATE OF NAME CHANGE: 20010227
FORMER COMPANY:
FORMER CONFORMED NAME: RESOURCE ASSET INVESTMENT TRUST
DATE OF NAME CHANGE: 19970904
4
1
doc4.xml
FORM 4 SUBMISSION
X0306
4
2012-11-15
0
0001045425
RAIT Financial Trust
RAS
0001559072
Silberstein Andrew Mark
C/O RAIT FINANCIAL TRUST
2929 ARCH ST., 17TH FL.
PHILADELPHIA
PA
19104
0
0
0
1
Trustee
Series D Cumulative Redeemable Preferred Shares
2012-11-15
4
A
0
800000
A
Series E Cumulative Redeemable Preferred Shares
800000
1600000
I
By ARS VI Investor I, LLC
Common Share Purchase Warrant
6.00
2012-11-15
4
A
0
1986200
A
2012-11-15
Common Shares of Beneficial Interest
1986200
3972400
I
By ARS VI Investor I, LLC
Common Share Appreciation Right
6.00
2012-11-15
4
A
0
1347133.4
A
Common Shares of Beneficial Interest
1347133.4
2694266.8
I
By ARS VI Investor I, LLC
The Series D Cumulative Redeemable Preferred Shares are exchangeable into the issuer's Series E Cumulative Redeemable Preferred Shares in certain circumstances on a one-for-one basis, and have no expiration date.
These securities were issued pursuant to the Securities Purchase Agreement (the "Purchase Agreement") dated as of October 1, 2012 among the issuer, certain subsidiaries of the issuer and ARS VI Investor I, LLC. The purchase price allocated per security is approximately $21.5685 per Series D Cumulative Redeemable Preferred Share, $0.925 per Common Share Purchase Warrant and $0.674 per Common Share Appreciation Right.
The reported securities are owned directly by ARS VI Investor I, LLC (the "Investor"), a limited liability company in which the reporting person indirectly holds an equity interest. Pursuant to the Purchase Agreement, the Investor may designate a trustee on the issuer's board of trustees. The deputized trustee of the Investor is the reporting person, who serves on the issuer's board of trustees as the Investor's representative. The reporting person disclaims beneficial ownership of the reported securities except to the extent of the reporting person's pecuniary interest therein.
These securities terminate on the earlier of (i) October 1, 2027 unless exercised on or prior to such date or (ii) (x) thirty (30) days following the receipt of notice by the holder thereof of a defined change of control or (y) if later, the date such change of control occurs.
The Common Share Appreciation Rights are exercisable commencing on the earlier of October 1, 2014 and the occurrence of a defined change of control.
The Common Share Appreciation Rights are settled in cash, not in the registrant's Common Shares of Beneficial Interest.
s/ Anders F. Laren, attorney-in-fact
2012-11-16