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By Preferred Stock Channel Staff, updated Sunday, November 16, 6:34 AM
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Free RPT Email Alerts:
Preferred Stock Offerings
| This Slide: #26 of 657 |
Slide #26. Rithm Property Trust Inc. — Preferred Stock Offering
Company:
Rithm Property Trust Inc. (NYSE:RPT)
Date announced:
2/25/2025
Shares Offered:
2,000,000
Date of Pricing:
2/27/2025
Price Per Share:
$25.00
Preferred Stock Offering Details:
Rithm Property Trust Inc. (formerly known as Great Ajax Corp.) (NYSE:RPT,RPTortheCompany) announced today the commencement of a public offering of shares of the Company's Series C Fixed-to-Floating Cumulative Redeemable Preferred Stock (the "Series C Preferred Stock") with a $25.00 per share liquidation preference. In connection with the offering, the Company expects to grant the underwriters an option for a period of 30 days to purchase additional shares of Series C Preferred Stock solely to cover over-allotments. The Company intends to use the net proceeds from the offering for investments and general corporate and working capital purposes. -updated 2/27- Rithm Property Trust Inc. (formerly known as Great Ajax Corp.) (NYSE:RPT,RPTortheCompany) announced today the pricing of a public offering of 2,000,000 shares of its 9.875% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (the "Series C Preferred Stock") with a $25.00 per share liquidation preference, for gross proceeds of $50,000,000, before deducting underwriting discounts and offering expenses. The Company has granted the underwriters an option for a period of 30 days to purchase up to an additional 300,000 shares of the Series C Preferred Stock to cover over-allotments, if any. The offering is subject to customary closing conditions and is expected to close on March 4, 2025. The Company intends to use the net proceeds from the offering for investments and general corporate and working capital purposes. The Company intends to file an application to list the Series C Preferred Stock on the New York Stock Exchange under the symbol "RPTP."
Great Ajax Corp. is an externally managed real estate company. Co.'s primary business is acquiring, investing in and managing a portfolio of mortgage loans. Co. operates in a single segment focused on re-performing mortgages, and to a lesser extent non-performing mortgages and real property. Co. primarily targets acquisitions of re-performing loans (RPLs), which are residential mortgage loans and non-performing loans (NPLs), which are residential mortgages. It invests in single-family and smaller commercial properties directly either through a foreclosure event of a loan in its mortgage portfolio, or, less frequently, through a direct acquisition.
Preferred: RPT.PRC
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