Great Ajax to Become Rithm Capital's External Manager

MT Newswires Live06-12

Rithm Capital (RITM) and Great Ajax (AJX) said Tuesday they have completed their strategic transaction, with Great Ajax entering into a management agreement with a Rithm Capital affiliate to serve as its external manager.

The companies added that with the closing of the transaction, Rithm Capital bought 2.9 million Great Ajax common shares from Great Ajax under a stock purchase agreement.

In connection with the completion of the transaction, Lawrence Mendelsohn resigned as chief executive of Great Ajax, the company said in a filing with the US Securities and Exchange Commission.

Great Ajax said it appointed Michael Nierenberg to serve as its CEO.

Great Ajax shares rose 4.1% and Rithm Capital shares were down 1.3% in recent trading.

Price: 10.95, Change: -0.15, Percent Change: -1.31

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