大阿贾克斯从Rithm获得7000万美元贷款，将股份出售给Rithm

2024-06-11 23:05

Rithm Capital (NYSE:RITM) and Great Ajax (NYSE:AJX) completed a transaction in which Rithm will become Great Ajax's external manager, the companies said on Tuesday.
Great Ajax (AJX) stock jumped 4.6% and Rithm (RITM) stock slipped 0.9% in late morning trading.
Under the deal, originally announced in February, Rithm is providing a one-year term loan to Great Ajax for up to $70M, which will be used to repay AJX's outstanding convertible notes.
In addition, Great Ajax (AJX) will issue five-year warrants to Rithm (RITM) based on the amounts drawn under the loan facility, exercisable for shares of Great Ajax's common stock.
With the completion of the transaction, Rithm (RITM) purchased 2.9M shares of Great Ajax common stock from Great Ajax pursuant to the terms of their stock purchase agreement.
For Great Ajax (AJX), the transaction marks its transition from a legacy residential loan platform into an opportunistic vehicle focused on commercial real estate. Rithm (RITM) expects that Great Ajax will realize strategic benefits from synergies with Rithm’s operating platforms and from the change in direction of its investment program.

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