Form 4: Rithm Capital Corp. Acquires Shares of Great Ajax Corp. as Management Fee Payment

Rithm Capital Corp. reports acquisition of Great Ajax Corp. shares as payment for quarterly management fees.

Summary

• Rithm Capital Corp. filed a Form 4 detailing changes in beneficial ownership of Great Ajax Corp. shares.
• On October 18, 2024, Rithm Capital Corp. acquired 441,783 shares of Great Ajax Corp. common stock at a price of $3.19 per share.
• These shares were issued to RCM GA Manager LLC, an affiliate of Rithm Capital Corp., as payment for the quarterly management fee.
• RCM GA Manager LLC has direct ownership of 2,874,744 shares.
• Following the transaction, Rithm Capital Corp. indirectly owns 441,783 shares and RCM GA Manager LLC directly owns 2,874,744 shares.
• Rithm Capital Corp. disclaims beneficial ownership of the reported securities except to the extent of its pecuniary interest therein.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it reflects a routine transaction of shares for management fees. There are no explicit positive or negative implications.

Positives

• The acquisition of shares as payment for management fees indicates ongoing services provided by RCM GA Manager LLC to Great Ajax Corp.

Management Comments

• Rithm Capital Corp. disclaims beneficial ownership of the reported securities except to the extent of its pecuniary interest therein.

Industry Context

This filing reflects standard practice where management fees are paid in shares, aligning the interests of the manager with the company's performance.

Related Party Transactions

• The transaction involves RCM GA Manager LLC, an affiliate of Rithm Capital Corp., indicating a related party transaction.

Stakeholder Impact

• The issuance of shares may slightly dilute existing shareholders.

Key Dates