Rithm Capital Corp. Enters Material Definitive Agreement
Ticker: RITM-PD · Form: 8-K · Filed: Sep 26, 2024 · CIK: 1556593
| Field | Detail |
|---|---|
| Company | Rithm Capital Corp. (RITM-PD) |
| Form Type | 8-K |
| Filed Date | Sep 26, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.01, $11.34 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-definitive-agreement, financial-statements, company-name-change
TL;DR
Rithm Capital Corp. just signed a big deal. Details to follow.
AI Summary
Rithm Capital Corp. announced on September 24, 2024, the entry into a material definitive agreement. The filing also includes financial statements and exhibits related to this agreement. Rithm Capital Corp. was formerly known as New Residential Investment Corp.
Why It Matters
This filing indicates a significant new agreement for Rithm Capital Corp., which could impact its future financial performance and strategic direction.
Risk Assessment
Risk Level: medium — The entry into a material definitive agreement suggests a significant event that could carry inherent risks and opportunities for the company.
Key Players & Entities
- Rithm Capital Corp. (company) — Filer
- New Residential Investment Corp. (company) — Former company name
- September 24, 2024 (date) — Date of report and agreement
FAQ
What is the nature of the material definitive agreement entered into by Rithm Capital Corp. on September 24, 2024?
The filing does not specify the exact nature of the material definitive agreement, only that one was entered into.
What financial statements and exhibits are included with this 8-K filing?
The filing indicates that financial statements and exhibits are included, but their specific content is not detailed in the provided text.
When did Rithm Capital Corp. change its name from New Residential Investment Corp.?
Rithm Capital Corp. was formerly known as New Residential Investment Corp., with a date of name change listed as December 27, 2012.
What is Rithm Capital Corp.'s Standard Industrial Classification (SIC) code?
Rithm Capital Corp.'s SIC code is 6798, which corresponds to REAL ESTATE INVESTMENT TRUSTS.
What is the business address and phone number for Rithm Capital Corp.?
The business address for Rithm Capital Corp. is 799 Broadway, New York, NY 10003, and the business phone number is (212) 850-7770.
Filing Stats: 891 words · 4 min read · ~3 pages · Grade level 10.6 · Accepted 2024-09-26 06:01:21
Key Financial Figures
- $0.01 — e on which registered: Common Stock, $0.01 par value per share RITM New York S
- $11.34 — he Company's common stock at a price of $11.34 per share, and granted the Underwriters
Filing Documents
- ny20036166x3_8k.htm (8-K) — 40KB
- ny20036166x3_ex1-1.htm (EX-1.1) — 197KB
- ny20036166x3_ex5-1.htm (EX-5.1) — 22KB
- 0001140361-24-041943.txt ( ) — 508KB
- ritm-20240924.xsd (EX-101.SCH) — 5KB
- ritm-20240924_def.xml (EX-101.DEF) — 19KB
- ritm-20240924_lab.xml (EX-101.LAB) — 30KB
- ritm-20240924_pre.xml (EX-101.PRE) — 22KB
- ny20036166x3_8k_htm.xml (XML) — 10KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. On September 24, 2024, Rithm Capital Corp. ("Rithm" or the "Company") entered into an underwriting agreement (the "Underwriting Agreement"), by and among the Company and Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and UBS Securities LLC, the representatives of the several underwriters named therein (collectively, the "Underwriters"). The following summary of certain provisions of the Underwriting Agreement is qualified in its entirety by reference to the complete Underwriting Agreement filed as Exhibit 1.1 hereto and incorporated herein by reference. Pursuant to the Underwriting Agreement, subject to the terms and conditions expressed therein, the Company agreed to sell to the Underwriters an aggregate of 30,000,000 shares of the Company's common stock at a price of $11.34 per share, and granted the Underwriters an option (the "Option") for 30 days to purchase up to an additional 4,500,000 shares of the Company's common stock at a price of $11.34 per share. The shares of common stock are being sold pursuant to a prospectus supplement, dated September 24, 2024, and related prospectus, dated August 5, 2022, each filed with the Securities and Exchange Commission, relating to the Company's automatic shelf registration statement on Form S-3ASR (File No. 333-266599). The Company has agreed to indemnify the Underwriters against certain liabilities, including certain liabilities under the Securities Act of 1933, as amended. If the Company is unable to provide the required indemnification, the Company has agreed to contribute to payments the Underwriters may be required to make in respect of those liabilities. In addition, the Underwriting Agreement contains customary representations, warranties and agreements of the Company, and customary conditions to closing. The offering is expected to close on September 26, 2024, subject to the conditions stated in the Underwriting Agreemen
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. The following exhibits are being filed herewith: No. Description 1.1 Underwriting Agreement, dated September 24, 2024, among Rithm Capital Corp. and Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and UBS Securities LLC. 5.1 Opinion of Skadden, Arps, Slate, Meagher & Flom LLP. 23.1 Consent of Skadden, Arps, Slate, Meagher & Flom LLP (included in Exhibit 5.1). 104 Cover Page Interactive Data File — the cover page XBRL tags are embedded within the Inline XBRL document. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. RITHM CAPITAL CORP. (Registrant) /s/ Nicola Santoro, Jr. Nicola Santoro, Jr. Chief Financial Officer and Chief Accounting Officer Date: September 26, 2024