0001012975-18-000870.txt : 20180629 0001012975-18-000870.hdr.sgml : 20180629 20180629175433 ACCESSION NUMBER: 0001012975-18-000870 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20180627 FILED AS OF DATE: 20180629 DATE AS OF CHANGE: 20180629 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: 18930341 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: TWO LOGAN SQUARE STREET 2: 100 N. 18TH STREET, 23RD FLOOR CITY: PHILADELPHIA STATE: PA ZIP: 19103 BUSINESS PHONE: (215) 207-2100 MAIL ADDRESS: STREET 1: TWO LOGAN SQUARE STREET 2: 100 N. 18TH STREET, 23RD FLOOR 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 edgar.xml PRIMARY DOCUMENT X0306 4 2018-06-27 1 0001045425 RAIT Financial Trust RASF 0001559072 Silberstein Andrew Mark C/O RAIT FINANCIAL TRUST 2 LOGAN SQUARE, 100 N. 18TH ST, 23RD FL PHILADELPHIA PA 19103 0 0 0 1 Trustee 7.75% Series A Cumulative Redeemable Preferred Shares 2018-06-27 4 A 0 383147 A 383147 I By ARS VI Investor I, LP 8.375% Series B Cumulative Redeemable Preferred Shares 2018-06-27 4 A 0 167828 A 167828 I By ARS VI Investor I, LP 8.875% Series C Cumulative Redeemable Preferred Shares 2018-06-27 4 A 0 117605 A 117605 I By ARS VI Investor I, LP Series D Cumulative Redeemable Preferred Shares 2018-06-27 4 D 0 2270610 D Series E Cumulative Redeemable Preferred Shares 2270610 668580 I By ARS VI Investor I, LP Series D Cumulative Redeemable Preferred Shares 2018-06-27 4 D 0 668580 D Series E Cumulative Redeemable Preferred Shares 668580 0 I By ARS VI Investor I, LP 668,580 shares of Series D Cumulative Redeemable Preferred Shares (the "Exchange Shares") were exchanged with the issuer pursuant to the terms of the Redemption and Exchange Agreement dated as of June 27, 2018 (the "Exchange Agreement") among the issuer, certain subsidiaries of the issuer and ARS VI Investor I, LP (the "Investor"). Pursuant to the terms of the Exchange Agreement, the Exchange Shares were exchanged for (i) 383,147 Series A Cumulative Redeemable Preferred Shares, (ii) 167,828 Series B Cumulative Redeemable Preferred Shares and (iii) 117,605 Series C Cumulative Redeemable Preferred Shares. The reported securities are owned directly by the Investor, a limited partnership in which the reporting person indirectly holds an equity interest. The Investor converted from a limited liability company into a limited partnership on December 31, 2013. Prior to the conversion, the Investor was known as ARS VI Investor I, LLC. Pursuant to the Securities Purchase Agreement dated as of October 1, 2012 among the Investor, the issuer and certain subsidiaries of the issuer, the Investor had the right to designate a trustee on the issuer's board of trustees (the "Designation Right"), and the Investor had previously designated the reporting person to the issuer's board of trustees. The Designation Right was cancelled in connection with the Exchange Agreement, and the reporting person has resigned from the issuer's board of trustees. The reporting person disclaims beneficial ownership of the reported securities except to the extent of the reporting person's pecuniary interest therein. These securities were redeemed by the issuer pursuant to the terms of the Exchange Agreement. The redemption price per Series D Cumulative Redeemable Preferred Share in the Exchange Agreement was $25.00 per share. /s/ Andrew Mark Silberstein 2018-06-29