RICHMOND, Va. - Resource Mortgage Capital Inc. has launched a public offering of convertible preferred stock that could raise over $37 million at the offering price.

The company is offering 1.35 million shares of series A cumulative convertible preferred at $24 a share. The underwriter, Stifel, Nicolaus & Co., has also been granted an option to buy up to 202,500 additional shares if necessary to cover overallotments.

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