Correction: Rithm Capital Affiliate to Serve as Great Ajax's External Manager

MT Newswires Live

Jun 12, 2024

(Corrects headline and first paragraph to state that an affiliate of Rithm Capital will become Great Ajax's external manager.)

Rithm Capital (RITM) and Great Ajax (AJX) said Tuesday they have completed their strategic transaction, in which an affiliate of Rithm will serve as Great Ajax's external manager.

The companies added that with the closing of the transaction, Rithm Capital bought 2.9 million Great Ajax common shares from Great Ajax under a stock purchase agreement.

In connection with the completion of the transaction, Lawrence Mendelsohn resigned as chief executive of Great Ajax, the company said in a filing with the US Securities and Exchange Commission.

Great Ajax said it appointed Michael Nierenberg to serve as its CEO.

Great Ajax shares rose 2.9%, and Rithm shares were 2.1% higher in recent trading.

Price: 11.17, Change: +0.20, Percent Change: +2.10

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