Kramer Levin Advises Rithm Property Trust in Public Offering of 9.875% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock

Category: Defining Matters
Date: March 03, 2025
Title: Kramer Levin Advises Rithm Property Trust in Public Offering of 9.875% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock

Kramer Levin represented Rithm Property Trust Inc. (formerly known as Great Ajax Corp.) (NYSE: RPT) in the underwritten public offering of 2,000,000 shares of its 9.875% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, at a price to the public of $25.00 per share. RPT 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.

Rithm Property Trust is a real estate investment platform externally managed by an affiliate of Rithm Capital Corp. (NYSE: RITM).