In its SEC filing, the specialty finance REIT says it may issueup to 200 million common shares and 25 million preferred shares,and will use the funds for general corporate purposes. Thesepurposes may include repayment or redemption of debt, redemption ofpreferred equity, capital expenditures and working capital.Currently, RAIT has approximately 64 million common shares and 6.5million preferred shares outstanding. Calls to RAIT for additionaldetails were not returned by deadline.

GlobeSt.com reported in February that RAIT ended 2007 with a$379-millionloss including a loss of $183.5 million in Q4 '07 alone,although its revenue for the quarter was up 25% year-over-year fromQ4 2006. Its Q3 loss was$244 million. The losses were related primarily to creditdeterioration in the residential mortgage and homebuilder sectors.Last December, GlobeSt.com reported that 10 executive officers ofRAIT voluntarilyforfeited $11.8 million in equity incentive awards. Thelargest of these forfeitures was $3.7 million that had been grantedto chairman Betsy Cohen. In an SEC filing announcing theforfeitures, Cohen said, "the action of our senior executivesreflects their commitment to aligning their long-term incentivecompensation with our shareholders' interests."

More recently, RAIT reported that its Q1 2008 earnings were$2.14 per diluted share, compared to a loss of $3.02 per dilutedshare for Q4 '07. The first quarter of this year also saw $331.4million of gross asset production and the company had a book valueof $25.63 per share, according to a news release from the REIT.