Reported Earlier, Rithm Capital Raised $342.9M Via Secondary Stock Offering Of 30M Shares
Portfolio Pulse from Benzinga Newsdesk
Rithm Capital Corp. has raised $342.9 million through a secondary stock offering of 30 million shares. The offering is expected to close on September 26, 2024, and the proceeds will be used for general corporate purposes.
September 25, 2024 | 6:39 am
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Rithm Capital Corp. has successfully raised $342.9 million through a secondary stock offering, which may lead to short-term stock price fluctuations as the market absorbs the new shares.
The issuance of 30 million new shares can lead to a dilution of existing shares, potentially putting downward pressure on the stock price in the short term. However, the funds raised can be used for growth and operational purposes, which might offset some negative impacts.
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