Eric Hagen

Kenneth Lee

Bose George

Crispin Love

Douglas Harter

Giuliano Anderes-Bologna

Jason Weaver

Jay McCanless

Matthew Order

Randy Binner

Stephen Laws

Trevor Cranston

Doug Harter

Randolph Binner

- Rithm Capital Corp. established an **"at-the-market" (ATM) equity offering program** on **September 22, 2025**, allowing for the issuance and sale of common stock with an aggregate offering price of up to **$750,000,000**.  **[1556593_0001140361-25-035736_ef20055908_ex5-1.htm:0]** **[1556593_0001140361-25-035736_ef20055908_8k.htm:1]** **[1556593_0001140361-25-035736_ef20055908_ex1-1.htm:1]** 
- The program involves a syndicate of sales agents, including **BofA Securities, Inc., Barclays Capital Inc., BTIG, LLC, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Nomura Securities International, Inc., Raymond James & Associates, Inc., RBC Capital Markets, LLC and Wells Fargo Securities, LLC**.  **[1556593_0001140361-25-035736_ef20055908_ex5-1.htm:0]** **[1556593_0001140361-25-035736_ef20055908_8k.htm:1]** **[1556593_0001140361-25-035736_ef20055908_ex1-1.htm:1]** 
- The common stock issued under this program will be **validly issued, fully paid, and nonassessable**, provided the consideration is not less than $0.01 per share.  **[1556593_0001140361-25-035736_ef20055908_ex5-1.htm:1]** 
- The company intends to continue to meet the requirements for qualification and taxation as a **real estate investment trust (REIT)**.  **[1556593_0001140361-25-035736_ef20055908_ex1-1.htm:20]** **[1556593_0001140361-25-035736_ef20055908_ex1-1.htm:20]** **[1556593_0001140361-25-035736_ef20055908_ex1-1.htm:26]**

Rithm Capital Corp. Establishes $750 Million At-The-Market Equity Offering Program

- Rithm Capital Corp. entered into an underwriting agreement on **September 18, 2025**, to sell **7,600,000 shares** of its **8.750% Series E Fixed-Rate Cumulative Redeemable Preferred Stock**.  **[1556593_0001140361-25-035580_ef20055836_8k.htm:1]** **[1556593_0001140361-25-035580_ef20055836_ex1-1.htm:1]** 
- The public offering price for the Series E Preferred Stock is **$25.00 per share**, resulting in total proceeds of **$190,000,000** before the underwriters' over-allotment option.  **[1556593_0001140361-25-035580_ef20055836_ex1-1.htm:38]** 
- The company expects to receive approximately **$184,015,000** in net proceeds (before expenses), which it intends to use for **investments and general corporate purposes**.  **[1556593_0001140361-25-035580_ef20055836_8k.htm:1]** **[1556593_0001140361-25-035580_ef20055836_ex1-1.htm:38]** 
- Dividends on the Series E Preferred Stock will be paid quarterly at an annual rate of **8.750%**, with the first dividend of **$0.85069 per share** expected on **February 15, 2026**.  **[1556593_0001140361-25-035580_ef20055836_ex1-1.htm:39]** 
- The offering is expected to close on **September 25, 2025**, and the shares will be listed on the New York Stock Exchange under the ticker symbol **RITM PR E**.  **[1556593_0001140361-25-035580_ef20055836_8k.htm:1]** **[1556593_0001140361-25-035580_ef20055836_ex1-1.htm:40]**

Rithm Capital Corp. announces offering of Series E Fixed-Rate Cumulative Redeemable Preferred Stock

- Rithm Capital announced the acquisition of **Paramount Group Inc.** for **$1.6 billion**, or **$6.60 per share**, with a target closing in **late Q4**.  **[1556593_2146126_2]** 
- The acquisition includes **13 owned and four managed high-quality Class A office assets** in New York City and San Francisco, totaling over **13 million square feet**, with **85% leased** as of the end of June.  **[1556593_2146126_2]** **[1556593_2146126_3]** 
- The transaction is structured as a balance sheet-light deal, with Rithm's equity check estimated between **$300 million and $500 million**, leveraging **$490 million** of Paramount's cash and liquidity, and involving third-party capital.  **[1556593_2146126_1]** **[1556593_2146126_2]** 
- Rithm views this as an opportunity to acquire assets at a **discount to book value** and **40% below pre-COVID levels**, believing office values troughed in 2024 and are now increasing, with no impact expected on Rithm's dividend.  **[1556593_2146126_1]** **[1556593_2146126_2]** **[1556593_2146126_4]** **[1556593_2146126_6]**

Rithm Capital Announces Acquisition of Paramount Group Inc.

- **Rithm Capital** announced its intent to acquire **Paramount Group, Inc. (NYSE: PGRE)**, a premier office REIT.  **[1556593_2146107:0]** **[1556593_2146107:8]** 
- The acquisition is for **cash consideration of ~$1.6 billion**, valued at **$6.60 per fully diluted share** of Paramount common stock.  **[1556593_2146107:8]** 
- Paramount's portfolio includes **13 owned and 4 managed Class A office properties** in New York City and San Francisco, totaling **more than 13.1 million square feet**, with **85.4% leased** as of June 30, 2025.  **[1556593_2146107:8]** 
- The transaction is targeted to close in **late Q4'25**, subject to customary closing conditions and Paramount shareholder approval.  **[1556593_2146107:8]** 
- Funding is expected to be sourced from excess cash from Paramount's balance sheet, cash and liquidity from Rithm's balance sheet, and potential opportunities from co-investors.  **[1556593_2146107:8]**

Rithm Capital to Acquire Paramount Group, Inc.

- **Rithm Capital Corp.** announced on **September 17, 2025**, a definitive agreement to acquire **Paramount Group, Inc.** for a total cash consideration of approximately **$1.6 billion**.  **[1556593_0001140361-25-035193_ef20055678_ex99-1.htm:0]** **[1556593_0001140361-25-035193_ef20055678_ex2-1.htm:0]** **[1556593_0001140361-25-035193_ef20055678_ex2-1.htm:5]** 
- Under the terms of the agreement, Rithm will acquire all outstanding shares of Paramount common stock for **$6.60 per fully diluted share**.  **[1556593_0001140361-25-035193_ef20055678_ex99-1.htm:0]** 
- The acquisition will expand Rithm's commercial real estate footprint with Paramount's portfolio of **13 owned and 4 managed Class A office assets**, totaling **over 13.1 million square feet**, which were **85.4% leased as of June 30, 2025**.  **[1556593_0001140361-25-035193_ef20055678_ex99-1.htm:0]** 
- The transaction is expected to close in **late Q4 2025**.  **[1556593_0001140361-25-035193_ef20055678_ex99-1.htm:0]**

Rithm Capital (RITM)