Great Ajax subsidiary closes $110M private offering of 8.875% senior notes due 2027

Rithm Property Trust Inc.

$110M aggregate principal, 8.875% coupon, maturity Sept 1, 2027.
Notes issued by OP subsidiary, fully guaranteed by Great Ajax and two subs.
Proceeds to buy back preferred stock (7.25% Series A & 5% Series B) at discount plus warrants.
Senior unsecured, rank equally with other senior debt, effectively subordinated to secured debt.
Not redeemable before Sept 1, 2024; thereafter callable at 100% plus applicable premium.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.