Rithm Capital drops on approx $350 mln stock offering

Rithm Capital

24/09/2024 21:24

** Shares of Rithm Capital  RITM.N  down 3.5% at $11.40 in
extended trading as co seeks equity raise
    ** Mortgage REIT announces 30 mln share offering for general
corp purposes
    ** Based on RITM close of $11.81, up 0.3% in regular session
on Tues, co would raise ~$350 mln 
    ** Citigroup, Goldman, JP Morgan, UBS, BTIG and Wells Fargo
jt bookrunners for offering
    ** Co has ~489.73 mln shares outstanding for ~$5.8 bln
market value, per LSEG
    ** Stock up 10.6% YTD

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))