Item
1.01 Entry into a Material Definitive Agreement.
On
November 19, 2007 LEAF Financial Corporation and LEAF Funding, Inc., each
indirect subsidiaries of ours, entered into an Asset Purchase Agreement with
Dolphin Capital Corp. and Lehman Brothers Bank, FSB, to acquire substantially
all of the assets of Dolphin Capital Corp., a small-ticket equipment leasing
company. The purchase price is approximately $167
million. We expect to assign the rights to acquire substantially all
of the equipment and equipment leases to LEAF Equipment Leasing Income Fund
III,
L.P., an investment partnership sponsored by LEAF Financial
Corporation. We expect that the partnership will finance the
acquisition through a credit agreement with National City Bank. The
parties anticipate that this transaction will close on or about November 30,
2007.
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
|
RESOURCE
AMERICA, INC.
|
|||
|
Date:
November 26, 2007
|
By:
|
/s/ Steven J. Kessler | |
| Name: Steven J. Kessler | |||
| Title: Executive Vice President and Chief Financial Officer | |||