Delta Financial Corporation, Woodbury, N.Y., said it intends to file a registration with the SEC in the second quarter to issue stock.The actual size of any proposed offering, and its successful completion, will depend upon market conditions and other factors, the company said. Delta believes the completion of the offering would help increase the public float of Delta's stock. If the offering is completed, Delta said it intends to use approximately $13.9 million of the proceeds to redeem all of its outstanding Series A 10% Preferred Stock and the balance for general corporate purposes. Since 1991, Delta, which originates home equity loans in 26 states, has sold $9.3 billion of its mortgages through 38 securitization transactions.
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