-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, GgcVOiY6XGtx53bwAZ1G838/pvFK/fSfPVdDPV44DN46lLOAdGh2isKegpOsWnsz 4mnr/WLiHGoNPDNKAYAiNw== 0000950116-98-000166.txt : 19980130 0000950116-98-000166.hdr.sgml : 19980130 ACCESSION NUMBER: 0000950116-98-000166 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19980114 ITEM INFORMATION: FILED AS OF DATE: 19980129 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: RESOURCE AMERICA INC CENTRAL INDEX KEY: 0000083402 STANDARD INDUSTRIAL CLASSIFICATION: INVESTMENT ADVICE [6282] IRS NUMBER: 720654145 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-04408 FILM NUMBER: 98516848 BUSINESS ADDRESS: STREET 1: 1521 LOCUST ST STREET 2: 4TH FL CITY: PHILADELPHIA STATE: PA ZIP: 19102 BUSINESS PHONE: 2155465005 MAIL ADDRESS: STREET 1: 2876 SOUTH ARLINGTON ROAD CITY: AKRON STATE: OH ZIP: 44312 FORMER COMPANY: FORMER CONFORMED NAME: RESOURCE EXPLORATION INC DATE OF NAME CHANGE: 19890214 FORMER COMPANY: FORMER CONFORMED NAME: SMTR CORP DATE OF NAME CHANGE: 19700522 8-K 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Dated of earliest event reported) January 14, 1998 ---------------- Resource America, Inc. ---------------------------------------------------------------- (Exact name of registrant as specified in its charter)
Delaware 0-4408 72-0654145 -------- ------ ---------- (State of incorporation (Commission (I.R.S. Employer or organization) File Number) Identification No.)
1521 Locust Street, 4th Floor Philadelphia, PA 19102 ---------------------------------------------------------------- (Address of principal executive offices) (Zip code) Registrant's telephone number, including area code (215)546-5005 ------------- Item 5. Other Events. As set forth in the Company's Annual Report on Form 10-K for the year ended September 30, 1997, the Company has acted as the sponsor of Resource Asset Investment Trust ("RAIT"), a Maryland real estate investment trust. RAIT completed its public offering of common shares of beneficial interest on January 14, 1998. As finally completed, the total amount raised by RAIT was $49.34 million, including an investment of $6.98 million by the Company. The Company currently has a 15% interest in RAIT (subject to reduction to the extent that the underwriters for RAIT's offering exercise their over-allotment option). The Company had undertaken to sell certain of its real estate loans to RAIT in connection with the offering. As finally determined, the Company sold ten loans (loans 002, 004, 006, 008, 009, 010, 012, 019, 023, 034 and one of the constituent loans of 038) and senior participation interests in two other loans (loan 027 and one of the constituent loans of 038) to RAIT for $18.1 million, realizing a gain of $3.0 million. In addition, the Company had, in connection with such sale, acquired certain senior lien interests pertaining to such loans at a cost of $2.0 million. The cost of acquiring these senior lien interests was reimbursed to the Company by RAIT. Pursuant to an undertaking from RAIT to the Company, the Company was reimbursed for certain of its costs and expenses incurred in sponsoring RAIT (including an allocation of salaries of the Company's executives). 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. RESOURCE AMERICA, INC. By: /s/ Steven J. Kessler -------------------------------- Steven J. Kessler Chief Financial Officer -----END PRIVACY-ENHANCED MESSAGE-----