Rithm Capital Launches Underwritten Offering Of Series F Fixed-Rate Reset Cumulative Redeemable Preferred Stock; No Terms Disclosed
Benzinga Newsdesk 10 months ago
NewsOfferings
Rithm Capital Corp. (NYSE:RITM, "Rithm" or the "Company"))) announces that it has launched an underwritten public offering of Series F Fixed-Rate Reset Cumulative Redeemable Preferred Stock (the "Preferred Stock"),
Rithm Capital Corp. (NYSE:RITM, "Rithm" or the "Company"))) announces that it has launched an underwritten public offering of Series F Fixed-Rate Reset Cumulative Redeemable Preferred Stock (the "Preferred Stock"), subject to market conditions. The terms of the Preferred Stock are to be determined by negotiations between the Company and the underwriters. The Company intends to apply to list the Preferred Stock on the New York Stock Exchange under the symbol "RITM PR F." The Company expects to grant to the underwriters a 30-day option to purchase up to an additional 15% of the shares of the Preferred Stock being offered to cover over-allotments, if any.
The Company intends to use the net proceeds from this offering for investments and general corporate purposes.
Morgan Stanley & Co. LLC, Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, RBC Capital Markets, LLC, UBS Investment Bank, Wells Fargo Securities, LLC, Citigroup Global Markets Inc., Keefe, Bruyette & Woods, A Stifel Company, and Piper Sandler & Co. are acting as joint bookrunners for the offering.