---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-077386"
form_type: "8-K"
ticker: "RPT"
cik: "0001614806"
company_name: "Rithm Property Trust Inc."
filed_at: "2023-07-03T23:59:59+00:00"
generated_at: "2026-06-13T13:17:40.469692+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Great Ajax to be acquired by Ellington Financial at 0.5308 shares of EFC per AJX share, 19% premium

## Summary
- Exchange ratio 0.5308 implies offer price of $7.33 per AJX share, ~19% premium to June 30 close.
- EFC stockholders expected to own ~84% of combined company; AJX stockholders ~16%.
- Transaction expected to close by year-end 2023, subject to AJX stockholder approval and other conditions.
- Termination fee of $6.867M payable by AJX under certain circumstances including a superior proposal.
- Great Ajax will redeem its Series A and B preferred stock and warrants prior to closing.

## SEC filing metadata
- accession: 0001104659-23-077386
- form_type: 8-K
- ticker: RPT
- cik: 0001614806
- company_name: Rithm Property Trust Inc.
- filed_at: 2023-07-03T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1614806/000110465923077386/0001104659-23-077386-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1614806/000110465923077386/tm2320412d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-077386
- JSON: https://secwatch.observer/filing/0001104659-23-077386.json
- Plain text: https://secwatch.observer/filing/0001104659-23-077386.txt

## Key facts
- Material Agreements
  Rithm Property Trust Inc. entered into Agreement and Plan of Merger with Great Ajax Corp., Ellington Financial Inc., EF Acquisition I LLC (effective 2023-06-30).
  - Action: entry
  - Agreement: merger
  - Counterparty: Great Ajax Corp., Ellington Financial Inc., EF Acquisition I LLC
  - Effective: 2023-06-30
  source text: On June 30, 2023, Great Ajax Corp., a Maryland corporation (“Great Ajax”), Ellington Financial Inc., a Delaware corporation (“EFC”) and EF Acquisition I LLC, a Maryland limited liability company and a direct, wholly-owned subsidiary of EFC (“Merger Sub”) entered into an Agreement and Plan of Merger (the “Merger Agreement”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1614806/000110465923077386/0001104659-23-077386-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.