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.

The preferred stock will be convertible to common stock at $24 a share. The quarterly dividend rate will be 58.5 cents a share.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.