Rithm Capital launches public offering of preferred stock

Rithm Capital Corp. (NYSE: RITM) announced it has launched an underwritten public offering of Series F Fixed-Rate Reset Cumulative Redeemable Preferred Stock, subject to market conditions.

The company plans to list the preferred stock on the New York Stock Exchange under the symbol "RITM PR F." Rithm expects to grant underwriters a 30-day option to purchase up to an additional 15% of the offered shares to cover over-allotments.

The company stated it intends to use net proceeds from the offering for investments and general corporate purposes. Terms of the preferred stock will be determined through negotiations between Rithm and the underwriters.

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

The offering is being conducted under the company's effective shelf registration statement filed with the Securities and Exchange Commission. Prospective investors can access the prospectus supplement and prospectus through the SEC's EDGAR database or by contacting the underwriters.

Rithm Capital operates as a global alternative asset manager focused on credit and real estate assets. The company's integrated investment platform includes asset-based finance, residential and commercial real estate lending, mortgage servicing rights, and structured credit through subsidiaries including Newrez, Genesis Capital, Sculptor Capital Management, Crestline Management, and Paramount Group.

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