Rithm Capital Corp. has announced a new underwritten public offering of Series F Fixed‑Rate Reset Cumulative Redeemable Preferred Stock, which will trade on the New York Stock Exchange under the symbol “RITM PR F.” The offering is being managed by a consortium of major investment banks, including Morgan Stanley, Goldman Sachs, and J.P. Morgan, among others.
The terms of the preferred stock are still being negotiated. Rithm has granted the underwriters a 30‑day option to purchase an additional 15 % of the shares being offered, a standard over‑allotment provision. The company has not yet disclosed the dividend rate, reset mechanism, or redemption schedule, but it has stated that the net proceeds will be used to fund growth initiatives, support recent acquisitions, and strengthen its balance sheet.
Rithm’s decision to raise capital follows a series of strategic moves, including the September 2025 Series E preferred stock issuance and the acquisition of Paramount Group for approximately $1.8 billion and Crestline Management for about $324.7 million. As a real‑estate investment trust with a high debt‑to‑equity ratio—$38.3 billion in subsidiary liabilities as of September 30, 2025—Rithm seeks to convert debt‑heavy capital into equity‑like instruments that can support its expanding asset‑based finance, real‑estate, and credit businesses.
There has been no market reaction to the announcement yet, but analysts covering Rithm’s common stock have maintained positive coverage, citing the company’s strong dividend history and the potential upside from its recent acquisitions.
The Series F offering represents a significant step in Rithm’s capital‑raising strategy, providing the company with a flexible, long‑dated source of equity‑like capital that can be deployed to accelerate growth, integrate newly acquired businesses, and improve its capital structure.
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