8-K/A 1 s836255.txt FORM 8-K - AMENDMENT SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K/A CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 December 10, 2003 (October 31, 2003) Date of Report (Date of Earliest Event Reported) ANTHRACITE CAPITAL, INC. (Exact name of Registrant as Specified in Charter) Maryland 001-13937 13-397-8906 ------------------------------- ----------------------- ------------------ (State or Other Jurisdiction (Commission (IRS Employer of Incorporation) File Number) Identification No.) 40 East 52nd Street 10022 ------------------------------------------ ----------------- (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (212) 409-3333 N/A ------------------------------------------------------------------------------- (Former Name or Former Address, if Changed Since Last Report) Item 5. Other Events. On October 31, 2003, Anthracite Capital, Inc. (the "Company") filed with the Securities and Exchange Commission (the "SEC") its Consolidated Statements of Financial Condition and Consolidated Statements of Operations as Exhibit 99.1 to a Current Report on Form 8-K. Due to a clerical error, a portion of such Exhibit 99.1 was inadvertently included. Accordingly, this Form 8-K/A is being filed by the Company to replace in its entirety Exhibit 99.1 to the Form 8-K filed with the SEC on October 31, 2003. A copy of the Company's revised Consolidated Statements of Financial Condition and Consolidated Statements of Operations is attached at Exhibit 99.1 hereto and is incorporated by reference in its entirety. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits. (c) Exhibits. 99.1 Anthracite Capital, Inc. Consolidated Statements of Financial Condition and Consolidated Statements of Operations. Signatures Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ANTHRACITE CAPITAL, INC. By: /s/ Robert L. Friedberg ---------------------------------- Name: Robert L. Friedberg Title: Vice President and Secretary Dated: December 10, 2003 ANTHRACITE CAPITAL, INC. CURRENT REPORT ON FORM 8-K Report Dated December 10, 2003 (October 31, 2003) EXHIBIT INDEX Exhibit No. Description ----------- ----------- 99.1 Anthracite Capital, Inc. Consolidated Statements of Financial Condition and Consolidated Statements of Operations. Exhibit 99.1 Anthracite Capital, Inc. and Subsidiaries Consolidated Statements of Financial Condition (in thousands, except per share data)
-------------------------------------------------------------------------------------------------------------------------------- September 30, 2003 December 31, 2002 ------------------ ----------------- (Unaudited) ASSETS Cash and cash equivalents $ 39,577 $ 24,698 Restricted cash equivalents 19,475 84,485 Residential mortgage backed securities 874,404 1,506,450 ------------------ ------------------ Cash and RMBS $ 933,456 $1,615,633 Commercial real estate securities 1,229,369 894,345 Commercial real estate loans 91,055 88,926 ------------------ ------------------ Total Commercial real estate $1,320,424 $983,271 Receivable for investments sold 37,660 - Other assets 53,736 40,447 ------------------ ------------------ Total Assets $2,345,276 $2,639,351 ================== ================== LIABILITIES AND STOCKHOLDERS' EQUITY Liabilities: Short term Borrowings: Secured by pledge of residential mortgage backed securities $818,031 $1,418,206 Secured by pledge of commercial real estate securities 282,267 42,861 Secured by pledge of commercial real estate loans 22,784 16,004 ------------------ ------------------ Total short term borrowings 1,123,082 1,477,071 Long term Borrowings: Collateralized debt obligations 684,875 684,590 ------------------ ------------------ Total borrowings $1,807,957 $2,161,661 Payable for investments purchased 60,562 524 Distributions payable 14,580 16,589 Other liabilities 54,153 54,361 ------------------ ------------------ Total Liabilities $1,937,252 $2,233,135 ------------------ ------------------ Stockholders' Equity: Common stock, par value $0.001 per share; 400,000 shares authorized; 48,863 shares issued and outstanding in 2003; and 47,398 shares issued and outstanding in 2002 49 47 10% Series B Preferred stock, liquidation preference $43,942 in 2003 and $47,817 in 2002 33,431 36,379 9.375% Series C Preferred stock, liquidation preference $57,500 in 2003 55,435 - Additional paid - in capital 530,315 515,180 Distributions in excess of earnings (100,224) (24,161) Accumulated other comprehensive loss (110,982) (121,229) ------------------ ------------------ Total Stockholders' Equity 408,024 406,216 ------------------ ------------------ Total Liabilities and Stockholders' Equity $2,345,276 $2,639,351 ================== ==================
Anthracite Capital, Inc. Consolidated Statements of Operations (Unaudited) (in thousands, except per share data)
------------------------------------------------------------------------------------------------------------------------------ For the Three Months Ended For the Nine Months Ended September 30, 2003 September 30, 2003 --------------------------------------------------------------- Income: Commercial real estate securities $26,125 $71,730 Commercial real estate loans 2,160 7,368 Residential mortgage backed securities 11,591 45,626 Cash and cash equivalents 453 838 ------- -------- Total income 40,329 125,562 ------- -------- Expenses: Interest expense: Collateralized debt obligations 11,098 33,088 Commercial real estate securities 1,442 2,619 Commercial real estate loans 136 363 Residential mortgage backed securities 3,508 13,560 Hedging Expense 5,496 13,251 General and administrative 551 1,724 Management fee 2,115 7,341 ------- -------- Total expenses 24,346 71,946 ------- -------- Other gain (loss): Realized loss (22,820) (33,279) Unrealized loss (10,038) (11,263) Hedge Ineffectiveness 66 (175) Loss on impairment of assets (5,412) (32,426) -------- --------- Total other loss (38,204) (77,143) -------- --------- Net Loss (22,221) (23,527) -------- --------- Dividends on preferred stock 2,491 5,298 ------- -------- Net Loss attributable to Common Shareholders (24,712) (28,825) ======== ======== Net Loss per share, basic $(0.51) $(0.60) ======== ======== Net Loss per share, diluted $(0.51) $(0.60) ======== ======== Weighted average number of shares outstanding: Basic 48,405 47,956 Diluted 48,421 47,972