Rithm Property Trust closes $50M preferred stock offering (2M shares, 9.875% fixed-to-floating rate)

Rithm Property Trust Inc.

Issued 2M shares of 9.875% Fixed-to-Floating Rate Series C Preferred Stock at $25 liquidation preference per share.
Underwriters have 30-day option to purchase up to 300,000 additional shares.
Dividends fixed at 9.875% through May 15, 2030; thereafter float at 3-month SOFR + 5.56%.
Proceeds contributed to Operating Partnership for Series C Preferred Units; used for investments and working capital.
Amendment to partnership agreement authorizes up to 2.3M Series C Preferred Units mirroring stock terms.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Rithm Property Trust Inc.: Filed Articles Supplementary designating 2,300,000 shares of Series C Preferred Stock with specified preferences and rights (effective 2025-03-03).

Change: charter amendment
Effective: 2025-03-03

Exact text from the filing

On March 3, 2025, the Company filed Articles Supplementary to the Company’s Articles of Amendment and Restatement (the “Articles Supplementary”) with the State of Assessments and Taxation of the State of Maryland to classify and designate 2,300,000 shares of the Company’s authorized but unissued preferred stock as shares of the Series C Preferred Stock

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Rithm Property Trust Inc. filing history →

Source: SEC EDGAR

accession 0001104659-25-020414

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