NEW YORK--(BUSINESS WIRE)-- Rithm Property Trust Inc. (formerly known as Great Ajax Corp.) (NYSE: RPT, "RPT" or the "Company") announced today the pricing of a public offering of 2,000,000 shares of its 9.875% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (the "Series C Preferred Stock") with a $25.00 per share liquidation preference, for gross proceeds of $50,000,000, before deducting underwriting discounts and offering expenses. The Company has granted the underwriters an option for a period of 30 days to purchase up to an additional 300,000 shares of the Series C Preferred Stock to cover over-allotments, if any. The offering is subject to customary closing conditions and is expected to close on March 4, 2025. The Company intends to use the net proceeds from the offering for investments and general corporate and working capital purposes. The Company intends to file an application to list the Series C Preferred Stock on the New York Stock Exchange under the symbol "RPTP."