Thursday, May 23, 2024

Great Ajax Corp. Sets Record Date for Crucial 2024 Stockholders Meeting: Strategic Transaction with Rithm Capital Corp. in Spotlight

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Great Ajax Corp. Announces Record Date for Stockholders Meeting to Approve Strategic Transaction With Rithm Capital Corp.

Great Ajax Corp. (NYSE: AJX), a distinguished real estate investment trust, has officially set the record date for its pivotal 2024 stockholders meeting. Scheduled for April 22, 2024, this meeting aims to address and vote on various matters pertinent to the company’s strategic transaction with Rithm Capital Corp.

During this significant gathering, stockholders will deliberate on several key proposals. One of the foremost items on the agenda is the possible issuance of common stock to certain investors, potentially surpassing the 19.99% cap as stipulated by New York Stock Exchange rules. Additionally, the issuance of common stock and warrant shares to Rithm, potentially leading to a change of control, will be reviewed. The meeting will also entail the election of four directors, slated to serve until the 2025 annual stockholders meeting.

Another critical discussion point will be the Company’s move to enter into a Management Agreement with RCM GA Manager LLC, an affiliate of Rithm. This move positions RCM GA Manager LLC as the external manager of Great Ajax, marking a significant shift in the company’s operational dynamics. Furthermore, stockholders will consider the adoption of Amendment No. 1 to the Company’s 2016 Equity Incentive Plan, aimed at enhancing internal governance and incentive mechanisms.

The meeting is not just about forwarding the Company’s strategic objectives but also involves the procedural ratification of Moss Adams LLP as the registered independent public accounting firm for the fiscal year ending December 31, 2024. Ensuring transparency and accountability, this action underscores Great Ajax’s commitment to uphold stringent financial standards.

In the wake of these significant developments, it’s paramount for stockholders to stay informed about the intricacies of the proposed transactions. In anticipation of the stockholders’ meeting, comprehensive materials and a proxy statement will be made available, providing detailed insights into each proposal set for consideration. This move ensures that all stockholders are well-equipped to make informed decisions during the vote, highlighting the importance of participation and engagement in shaping the course of Great Ajax’s future.

Forward-Looking Statements and Future Prospects

The forward-looking statements within this announcement reflect the company’s ambitions as it navigates through strategic transformations. Such statements are rooted in current expectations and inherently subject to risks and uncertainties which could alter future outcomes. This acknowledgment paves the way for an open, anticipatory approach towards the upcoming transaction with Rithm Capital Corp., emphasizing the dynamic nature of real estate investment in today’s economic landscape.

About Rithm Capital Corp.

Rithm Capital Corp. stands out as a global asset manager with a keen focus on real estate, credit, and financial services. With diversified operations, including alternative asset management and leading mortgage origination and servicing platforms, Rithm is dedicated to delivering robust risk-adjusted returns across various market cycles. Since its inception in 2013, the company has consistently aimed to maximize shareholder value, showcasing a strong commitment to its strategic vision.

About Great Ajax Corp.

Great Ajax Corp. has carved a niche in the real estate investment trust sector with its focus on re-performing and non-performing loans. The company’s strategic emphasis extends to small balance commercial mortgage loans, reflecting a broadened investment approach. Managed by Thetis Asset Management LLC, Great Ajax is synonymous with innovation and efficiency in asset management, driving forward its commitment to investors and stakeholders alike.

As Great Ajax Corp. and Rithm Capital Corp. look towards a future characterized by strategic collaboration and enhanced market positioning, the upcoming stockholders meeting emerges as a crucial juncture. A significant chapter in the companies’ narratives, this event symbolizes a forward-thinking approach to governance and operational excellence, underpinning the shared vision for sustained growth and success in the competitive real estate investment landscape.

Natalie Kimura
Natalie Kimurahttps://www.businessorbital.com/
Natalie Kimura is a business correspondent known for her in-depth interviews and feature articles. With a background in International Business and a passion for global economic affairs, Natalie has traveled extensively, providing her with a unique perspective on international trade and global market dynamics. She started her career in Tokyo, contributing to various financial journals, and later moved to London to expand her expertise in European markets. Natalie's expertise lies in international trade agreements, foreign investment patterns, and economic policy analysis.

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