Rithm (RITM) Affiliate to Aid Great Ajax's Management Transition [Yahoo! Finance]
Great Ajax Corp. (AJX)
Last great ajax corp. earnings: 3/3 04:05 pm
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Source: Yahoo! Finance
The transaction also includes Great Ajax issuing warrants and shares to Rithm. A subsidiary of Rithm has entered into a one-year term loan agreement with AJX for up to $70 million, which will be used by Great Ajax in its outstanding convertible notes' repayments. As part of the loan agreement, Great Ajax is expected to terminate its external manager, Thetis Asset Management and enter into an agreement with a subsidiary of Rithm for serving as an external manager. The change in management is expected to enable AJX to capitalize on commercial real estate investment opportunities. The strategic transaction is expected to boost Rithm's asset management platform. It is expected to play a key role in Great Ajax's commercial real estate-focused strategy and help it thrive in a dynamic commercial real estate market. Per the deal, Great Ajax is expected to issue five-year warrants to Rithm. These will be exercisable for AJX's common shares. Moreover, it is expected to issue $14 million c
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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