Great Ajax and Ellington Financial mutually terminate merger; EFC pays $16M

Rithm Property Trust Inc.

Mutual termination of merger agreement announced July 3, 2023, effective immediately.
Ellington Financial will pay Great Ajax $16M: $5M cash and $11M in stock at $6.60 per share.
EFC now holds approximately 6.1% of Great Ajax common stock post-transaction.
Both companies intend to continue collaborating on mortgage loan opportunities.
Parties mutually release all claims related to the merger agreement.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Rithm Property Trust Inc. terminated Termination Agreement with Ellington Financial Inc. valued at $16 million (effective 2023-10-20).

Action: termination
Agreement: merger
Counterparty: Ellington Financial Inc.
Value: $16 million
Effective: 2023-10-20

Exact text from the filing

On October 20, 2023, Great Ajax and EFC entered into a Termination Agreement (the “Termination Agreement”) pursuant to which, among other things, Great Ajax and EFC mutually agreed to terminate the Merger Agreement

View on SEC.gov

Browse all material agreements →

Rithm Property Trust Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-110488

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

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.