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Great Ajax Corp (AJX) just unveiled an announcement.
Great Ajax Corp. has entered into a significant financial arrangement with Rithm Capital Corp., securing a $70 million credit facility to be used for repaying existing debts. This move includes the issuance of warrants for Rithm to purchase Great Ajax shares at a premium, alongside a private placement of shares to Rithm for approximately $14 million. Additionally, Great Ajax is transitioning management, replacing Thetis Asset Management LLC with an affiliate of Rithm, and reshuffling its Board of Directors to include Rithm-nominated and new independent directors. These strategic transactions are designed to bolster Great Ajax’s financial position and governance, pending approval from its shareholders.
For a thorough assessment of AJX stock, go to TipRanks’ Stock Analysis page.
