SEC Filing Summary: Resource Capital Corp. (8-K)
Business Context and Reporting Period
This Form 8-K was filed by Resource Capital Corp. on May 3, 2018. The filing primarily serves to announce the Company's intention to change its corporate name and trading symbols, alongside a reference to a press release detailing operating results for the three months ended March 31, 2018.
Key Financial Metrics
The filing text references a press release (Exhibit 99.1) containing operating results for the quarter ended March 31, 2018. However, the specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity are not included in the body of this 8-K document. The filing text does not provide a clear value for these metrics.
Material Changes
- Corporate Name Change: The Company announced a name change from "Resource Capital Corp." to "Exantas Capital Corp."
- Trading Symbol Update: Common stock symbols will change from "RSO" to "XAN".
- Preferred Stock Symbol Update: The 8.625% Fixed-to-Floating Series C Cumulative Redeemable Preferred Stock symbol will change from "RSO PrC" to "XAN PrC".
- Effective Date: These changes are scheduled to become effective at 5:00 p.m. Eastern Daylight Time on May 25, 2018.
- CUSIP Updates: New CUSIP numbers will be assigned: 30068N105 for common stock and 30068N402 for the Series C Preferred Stock.
Guidance, Outlook, and Risks
The filing contains standard forward-looking statements regarding the name change and future operations. It explicitly disclaims any obligation to update these statements. The document notes that actual results may differ materially from expectations due to risks and uncertainties discussed in the Company's other SEC filings under "Risk Factors" and "Management's Discussion and Analysis." No specific financial guidance or outlook figures are provided in this text.
Investor Verification Checklist
- Verify the new trading symbols ("XAN" and "XAN PrC") and CUSIP numbers on brokerage platforms prior to the May 25, 2018 effective time.
- Review the attached press release (Exhibit 99.1) for the actual financial performance data for the quarter ended March 31, 2018, as it is not detailed in this summary.
- Confirm the status of the 8.625% Fixed-to-Floating Series C Preferred Stock under the new ticker symbol.