8-K
filed June 11, 2024, 7:59 PM ET
ticker RPT
CIK 0001614806
leadership
confidence high
sentiment neutral
materiality 0.75
Great Ajax closes strategic transaction with Rithm; CEO Mendelsohn replaced by Nierenberg
Rithm Property Trust Inc.
- CEO Lawrence A. Mendelsohn resigned; Michael Nierenberg appointed as CEO effective June 11, 2024.
- Board reconstituted to five members: two existing directors, one new independent, one Rithm nominee, one vacancy.
- CFO Mary B. Doyle resigned; continues as principal financial/accounting officer via consulting arrangement with RCM GA.
- Entered termination with manager Thetis Asset Management; issued 3,174,645 shares as termination fee payment.
- Strategic transaction with Rithm closed; includes $70M term loan and stock/warrant issuance for note repayment.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Lawrence A. Mendelsohn resigned as Chief Executive Officer at Rithm Property Trust Inc..
- Action
- resigned
- Role
- Chief Executive Officer
Exact text from the filing
On June 11, 2024, in connection with the closing of the Transaction, Lawrence A. Mendelsohn resigned from his position as Chief Executive Officer of the Company, and the Company appointed Michael Nierenberg to serve as its Chief Executive Officer.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Mary B. Doyle resigned as Chief Financial Officer at Rithm Property Trust Inc..
- Action
- resigned
- Role
- Chief Financial Officer
Exact text from the filing
In connection with the closing of the Transaction, Mary B. Doyle resigned from her position as Chief Financial Officer of the Company.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Michael Nierenberg was appointed as Chief Executive Officer at Rithm Property Trust Inc..
- Action
- appointed
- Role
- Chief Executive Officer
Exact text from the filing
the Company appointed Michael Nierenberg to serve as its Chief Executive Officer.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Michael Nierenberg was appointed as Director at Rithm Property Trust Inc..
- Action
- nominated
- Role
- Director
Exact text from the filing
one member, Michael Nierenberg, that was nominated by Rithm
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Daniel Hoffman was elected as Director at Rithm Property Trust Inc..
- Action
- elected
- Role
- Director
Exact text from the filing
one member, Daniel Hoffman, that is a newly elected independent director of the Company
View on SEC.gov
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