Rithm Capital, Great Ajax Enter a Strategic Transaction [MarketWatch]
Great Ajax Corp. (AJX)
Last great ajax corp. earnings: 3/3 04:05 pm
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Source: MarketWatch
Under the terms of the deal, Great Ajax entered a one-year term loan agreement for up to $70 million with one of Rithm's subsidiaries. Great Ajax said it planned to use borrowings under the term loan and other assets to repay its outstanding convertible notes. Advertisement Great Ajax also plans to enter into a management agreement with an affiliate of Rithm to serve as its external manager, the companies said, adding "The transaction will enable Great Ajax to shift its strategic direction and capitalize on commercial real estate investment opportunities." The deal will also see Great Ajax issue five-year warrants to Rithm, exercisable for shares of Great Ajax's common stock. Also, under a securities purchase agreement, Great Ajax will issue $14 million of its common stock to Rithm. The closing of the purchase, and other aspects of the deal, are subject to approval by Great Ajax stockholders, the companies said. Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
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AJX
News
- Great Ajax Corp. Announces Results for the Quarter Ended March 31, 2024 [Yahoo! Finance]Yahoo! Finance
- Great Ajax Corp. Announces Results for the Quarter Ended March 31, 2024Business Wire
- Great Ajax Corp. Announces Final Conversion Rate for Its Convertible Notes [Yahoo! Finance]Yahoo! Finance
- Great Ajax Corp. Announces Final Conversion Rate for Its Convertible NotesBusiness Wire
- Great Ajax Corp. Announces Record Date for Stockholders Meeting to Approve Strategic Transaction With Rithm Capital Corp.Business Wire
AJX
Earnings
- 5/3/24 - Miss
AJX
Sec Filings
- 5/3/24 - Form 10-Q
- 5/3/24 - Form 8-K
- 4/30/24 - Form 25-NSE
- AJX's page on the SEC website