Rithm Capital Launches Preferred Stock Offering

MT Newswires Live01-13

Rithm Capital (RITM) said Tuesday that it has launched an underwritten public offering of series F fixed-rate reset cumulative redeemable preferred stock based on market conditions.

The company said it intends to list the preferred stock on the New York Stock Exchange under the symbol RITM PR F, and that terms of the offering will be based on negotiations between Rithm Capital and the underwriters.

The underwriters will be granted a 30-day option to buy up to 15% of the shares to cover any over-allotments. Net proceeds of the offering will be used for investments and general corporate purposes, the company added.

Shares of Rithm Capital were down 1.2% in early trading.

Price: 11.27, Change: -0.14, Percent Change: -1.18

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment