Filing Details

Accession Number:
0001193805-19-000902
Form Type:
13D Filing
Publication Date:
2019-10-04 15:52:08
Filed By:
Frischer Charles L
Company:
Rait Financial Trust (NYSE:RASFQ)
Filing Date:
2019-10-04
SEC Url:
13D Filing
Ownership Summary

Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Charles Frischer 5,092 5,092 5,092 0.28%
Libby Frischer Family Partnership 133,408 0.00%
Filing

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_______________________

 

SCHEDULE 13D

under the Securities Exchange Act of 1934

(Amendment No. 6)

_______________________

 

RAIT FINANCIAL TRUST

(Name of Issuer)

 

Common Shares of Beneficial Interest, $.03 par value per share

(Title of Class of Securities)

 

749227609

(CUSIP Number of Class

of Securities)

_______________________

 

Charles L. Frischer

4404 52nd Avenue NE

Seattle, WA 98105

 

______________________________________________________________________

(Name, Address and Telephone Number of Person

Authorized to Receive Notices and Communications)

 

September 4, 2019

(Date of Event which Requires Filing of this Statement)

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(b)(3) or (4), check the following box .

 

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.

 

*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

 

The information required on the remainder of this cover shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

  

(continued on next page(s)) Page 1 of 6

 

 

CUSIP No.  749227609 13D Page 2 of 6

  

1

Name of Reporting Person

S.S. or I.R.S. Identification No. of Above Person

 

Charles Frischer

I.R.S. I.D. No.

 
2

Check the Appropriate Box if a Member of a Group *

 

 

(a) ☒

(b) ☐

 

3

SEC Use Only

 

 

 
4

Sources of Funds *

 

PF

 
5

Check Box if Disclosure of Legal Proceedings is Required Pursuant to Items 2(e) of 2(f)

 

 

6

Citizenship or Place of Organization

 

USA

 

Number of Shares Beneficially Owned

by Each Reporting

Person With

7

Sole Voting Power

 

5,092

 
8

Shared Voting Power

 

- 0 -

 

9

 

Sole Dispositive Power

 

5,092

 

10

 

Shared Dispositive Power

 

- 0 -

 

11

 

Aggregate Amount Beneficially Owned by Each Reporting Person

 

5,092

 
12

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*

 

 

☐ 

13

 

Percent of Class Represented by Amount in Row (11)

 

0.28%

 
14

Type of Reporting Person*

 

IN

 

 

*SEE INSTRUCTIONS BEFORE FILLING OUT!

 

 

CUSIP No.  749227609 13D Page 3 of 6

  

1

Name of Reporting Person

S.S. or I.R.S. Identification No. of Above Person

 

Libby Frischer Family Partnership

I.R.S. I.D. No.

 
2

Check the Appropriate Box if a Member of a Group *

 

 

(a) ☒

(b) ☐

 

3

SEC Use Only

 

 

 
4

Sources of Funds *

 

WC

 
5

Check Box if Disclosure of Legal Proceedings is Required Pursuant to Items 2(e) of 2(f)

 

 

6

Citizenship or Place of Organization

 

USA

 

Number of Shares Beneficially Owned

by Each Reporting

Person With

7

Sole Voting Power

 

- 0 -

 
8

Shared Voting Power

 

- 0 -

 

9

 

Sole Dispositive Power

 

- 0 -

 

10

 

Shared Dispositive Power

 

- 0 -

 

11

 

Aggregate Amount Beneficially Owned by Each Reporting Person

 

133,408

 
12

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*

 

 

☐ 

13

 

Percent of Class Represented by Amount in Row (11)

 

0.00%

 
14

Type of Reporting Person*

 

PN

 

 

*SEE INSTRUCTIONS BEFORE FILLING OUT!

 

 

CUSIP No.  749227609 13D Page 4 of 6

 

This Amendment No. 6 to Schedule 13D amends certain information contained in the Schedule 13D filed by Charles Frischer on March 5, 2018, as amended by Amendment No. 1 to Schedule 13D filed by Charles Frischer and the Libby Frischer Family Partnership on April 5, 2018, as amended by Amendment No. 2 to Schedule 13D filed by Charles Frischer and the Libby Frischer Family Partnership on May 15, 2018, as amended by Amendment No. 3 to Schedule 13D filed by Charles Frischer and the Libby Frischer Family Partnership on September 12, 2018, as amended by Amendment No. 4 to Schedule 13D filed by Charles Frischer and the Libby Frischer Family Partnership on October 2, 2018, and as further amended by Amendment No. 5 to Schedule 13D filed by Charles Frischer and the Libby Frischer Family Partnership on December 31, 2018 (the “13D”) with respect to the Common Stock, par value $0.03 per share (the “Shares”) of RAIT Financial Trust, a real estate investment trust (the “Issuer”). The principal executive offices of the Issuer are located at Two Logan Square, 100 N. 18th Street, 23rd Floor, Philadelphia, PA 19103. Capitalized terms used but not defined herein have the meanings ascribed to them in the 13D. 

 

Item 3.Source and Amount of Funds of Other Consideration.

 

Item 3 shall be deleted in its entirety and replaced with the following:

 

The total amount of funds required to acquire the Shares acquired by Mr. Frischer was $107,060. Mr. Frischer used personal funds and funds in his IRA to acquire his Shares.

 

Item 5.Interest of Securities of the Issuer.

 

Item 5 shall be deleted in its entirety and replaced with the following:

 

(a) and (b) Beneficial ownership

 

As of the date of this Amendment No. 6 to Schedule 13D, Mr. Frischer directly or through his IRA owns 5,092 Shares. Accordingly, Mr. Frischer beneficially owns 5,092 Shares representing approximately 0.28% of the outstanding Shares. The percentage set forth above and on the cover pages hereto represent the percentage of the outstanding Shares based on a total of 1,849,536 Shares outstanding at March 18, 2019, which amount is derived from amount reported in the Issuer’s Report on Form 10-K for the period ended March 18, 2019.

 

(c)       Transactions during the past sixty days

 

Information with respect to the Reporting Person’s transactions effected during the past 60 days are set forth on Annex A hereto.

 

(d)       Right to receive dividends or proceeds

 

Not applicable.

 

(e)       Beneficial ownership of less than five percent

 

Not applicable.

 

 

CUSIP No.  749227609 13D Page 5 of 6

  

Item 7.Materials to be Filed as Exhibits.

 

1.Joint Filing Agreement, incorporated by reference to Exhibit 1 to the 13D

 

2.Letter dated as of May 11, 2018 from Libby Frischer Family Partnership to RAIT Financial Trust and Ledgewood, P.C., incorporated by reference to the Exhibit 10.1 to the Issuer’s Form 8-K filed on May 11, 2018

 

Signatures

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

Pursuant to Rule 13d-1(k), this Schedule 13D is filed jointly on behalf of each of the Reporting Persons.

 

Dated as of October 4, 2019

  

  /s/ Charles Frischer
  Charles Frischer
   
  LIBBY FRISCHER FAMILY PARTNERSHIP
   
  By: /s/ Charles Frischer
    Charles Frischer
    General Partner

 

Attention:  Intentional misstatements or omissions of fact constitute Federal criminal violations (See 18 U.S.C. 1001).

 

 

CUSIP No.  749227609 13D Page 6 of 6

  

ANNEX A

 

Schedule of Transactions in Common Shares of the Issuer

During the Past 60 Days

 

Libby Frischer Family Partnership

 

Date of Transaction Quantity Sold

Price per Share

     
9/4/2019 133,408 0.05

 

Charles Frischer

 

Date of Transaction Quantity Sold

Price per Share

     
9/4/2019 149,600 0.05