0000876661-18-001302.txt : 20181206
0000876661-18-001302.hdr.sgml : 20181206
20181206162734
ACCESSION NUMBER: 0000876661-18-001302
CONFORMED SUBMISSION TYPE: 25-NSE
PUBLIC DOCUMENT COUNT: 2
FILED AS OF DATE: 20181206
DATE AS OF CHANGE: 20181206
EFFECTIVENESS DATE: 20181206
SUBJECT COMPANY:
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
FILING VALUES:
FORM TYPE: 25-NSE
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-14760
FILM NUMBER: 181220993
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
FILED BY:
COMPANY DATA:
COMPANY CONFORMED NAME: NEW YORK STOCK EXCHANGE LLC
CENTRAL INDEX KEY: 0000876661
IRS NUMBER: 000000000
STATE OF INCORPORATION: NY
FILING VALUES:
FORM TYPE: 25-NSE
BUSINESS ADDRESS:
STREET 1: 11 WALL STREET
CITY: NEW YORK
STATE: NY
ZIP: 10005
BUSINESS PHONE: 212-656-2060
MAIL ADDRESS:
STREET 1: 11 WALL STREET
CITY: NEW YORK
STATE: NY
ZIP: 10005
FORMER COMPANY:
FORMER CONFORMED NAME: NEW YORK STOCK EXCHANGE INC
DATE OF NAME CHANGE: 19910628
25-NSE
1
primary_doc.xml
X0203
0000876661
NEW YORK STOCK EXCHANGE LLC
1045425
RAIT Financial Trust
001-14760
2929 Arch Street, 17th Floor
Cira Centre
Philadelphia
PA
PENNSYLVANIA
19104
(215) 243-9000
8.375% Series B Cumulative Redeemable Preferred Shares of Beneficial Interest, $0.01 par value
17 CFR 240.12d2-2(b)
Victoria Paper
Senior Analyst
2018-12-06
EX-99.25
2
ruleprovisionnotice.htm
NOTIFICATION OF THE REMOVAL FROM LISTING AND REGISTRATION OF THE STATED SECURITIES
The New York Stock Exchange LLC ('NYSE' or the 'Exchange') hereby notifies the Securities and Exchange Commission (the 'Commission') of its intention to remove the entire class of the Common Shares of Beneficial Interest (the 'common shares'), the 7.75% Series A Cumulative Redeemable Preferred Shares of Beneficial Interest, the 8.375% Series B Cumulative Redeemable Preferred Shares of Beneficial Interest, the 8.875% Series C Cumulative Redeemable Preferred Shares of Beneficial Interest, the 7.625% Senior Notes Due 2024, and the 7.125% Senior Notes due 2019 (collectively with the common shares, the 'Securities') of RAIT Financial Trust (the 'Company') from listing and registration on the Exchange at the opening of business on December 17, 2018, pursuant to the provisions of Rule 12d2-2(b) because, in the opinion of the Exchange, the common shares are no longer suitable for continued listing and trading on the Exchange.
The Exchange has determined that the Company is no longer suitable for listing based on 'abnormally low' price levels, pursuant to Section 802.01D of the Listed Company Manual.
The Exchange, on May 11, 2018, determined that the Securities should be suspended from trading, and directed the preparation and filing with the Commission of this application for the removal of the Securities from listing and registration on the Exchange. The Company was notified by phone and letter on May 11, 2018.
Pursuant to the above authorization, a press release regarding the proposed delisting was issued and posted on the Exchange's website on May 11, 2018. Trading in the Securities was suspended intra-day on May 11, 2018.
The Company had a right to appeal to a Committee of the Board of Directors of the Exchange (the 'Committee') the determination to delist the Securities, provided that it filed a written request for such a review with the Secretary of the Exchange within ten business days of receiving notice of the delisting determination. On May 29, 2018 the Exchange received a letter from the Company to request a hearing before the Committee. The hearing was held on October 11, 2018.
On December 4, 2018, the Committee issued a decision that affirmed the determination of the Exchange to delist the Securities. Consequently, all conditions precedent under SEC Rule 12d2-2(b) to the filing of this application have been satisfied.