Rithm Capital prices $190 million preferred stock offering

Rithm Capital Corp. (NYSE: RITM) announced the pricing of an underwritten public offering of 7.6 million shares of its 8.75% Series E Fixed-Rate Cumulative Redeemable Preferred Stock at $25.00 per share.

The offering will generate gross proceeds of approximately $190 million before deducting underwriting discounts and other estimated offering expenses. The company has granted underwriters a 30-day overallotment option to purchase up to an additional 1.14 million shares of the preferred stock.

The offering is expected to close on September 25, 2025, subject to customary closing conditions. Rithm intends to apply to list the preferred stock on the New York Stock Exchange under the symbol "RITM PR E."

The company plans to use net proceeds from the offering for investments and general corporate purposes, according to the press release statement.

Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, RBC Capital Markets, LLC, UBS Investment Bank, Wells Fargo Securities, LLC, BTIG, LLC, Citigroup Global Markets Inc., Goldman Sachs & Co. LLC and Piper Sandler & Co. are serving as joint bookrunners for the offering.

The offering is being conducted pursuant to the company's effective shelf registration statement filed with the Securities and Exchange Commission. The preferred stock carries a liquidation preference of $25.00 per share.

Rithm Capital Corp. operates as a global alternative asset manager focused on credit and real estate assets, with subsidiaries including Newrez, Genesis Capital, and Sculptor Capital Management.

You May Also Be Interested In

• enVVeno Medical (NVNO) files $100M mixed shelf
• ESS Tech closes $3.2M stock offering at $0.50 per share
• Real and RE/MAX Holdings set Aug. 24 merger closing date