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Anthracite Capital exchanges shares for $15 million in convertibles
By Devika Patel
Knoxville, Tenn., Aug. 18 - Anthracite Capital, Inc. issued 5 million common shares in exchange for $15 million of its 11.75% convertible senior notes due 2027 on Aug. 17, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
On Aug. 13, the company agreed to issue 915,000 shares for $3 million of the convertibles. This transaction is expected to settle Aug. 18.
Anthracite Capital is a New York specialty finance company focused on investments in high-yield commercial real estate loans and related securities.
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