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Rithm Capital Corp. Prices Preferred Stock Offering

Strategic Insights

— 1 min read

Rithm Capital Corp. has made a major move in the financial markets with the pricing of its underwritten public offering of 7,600,000 shares of 8.75 percent series E fixed-rate cumulative redeemable preferred stock. The offering, which will see the company raise around USD190m before deducting underwriting discount and other expenses, is expected to close on September 25, 2025. This move will further solidify Rithm Capital Corp.'s position in the market and provide it with the necessary funds for investments and general corporate purposes.

Key Takeaways:

  • Rithm Capital Corp. has priced an underwritten public offering of 7,600,000 shares of its 8.75 percent series E fixed-rate cumulative redeemable preferred stock.
  • The offering will raise around USD190m before deducting underwriting discount and other expenses.
  • The preferred stock is expected to be listed on the New York Stock Exchange under the symbol 'RITM PR E'.
  • The company has granted joint bookrunners an overallotment option to purchase up to an additional 1,140,000 shares of the preferred stock.
  • The net proceeds from the offering will be used by Rithm Capital Corp. for investments and general corporate purposes.
  • The offering is expected to close on September 25, 2025.
  • Morgan Stanley & Co. Llc, J.P. Morgan Securities Llc, RBC Capital Markets, Llc, UBS Investment Bank, Wells Fargo Securities, Llc, BTIG, Llc, Citigroup Global Markets Inc, Goldman Sachs & Co. Llc, and Piper Sandler & Co. are serving as joint bookrunners for the offering.

Statistics:

  • The offering consists of 7,600,000 shares of 8.75 percent series E fixed-rate cumulative redeemable preferred stock.
  • The preferred stock has a liquidation preference of USD25.00 per share.
  • The offering is expected to raise around USD190m before deducting underwriting discount and other expenses.
  • The company has granted an overallotment option to purchase up to an additional 1,140,000 shares of the preferred stock.
  • The offering is expected to close on September 25, 2025.

Sources:

  • M2 EquityBites-September 19, 2025--Rithm Capital Corp. prices preferred stock offering
  • Global Banking News - 19 September 2025

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