Company: RITM-PC
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001556593-25-000033
Chunk: 77

Company: Rithm Capital Corp.
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 1
Chunk 77
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 to adjustment for estimated transaction costs and working capital. The Crestline Acquisition is expected to close in the fourth quarter of 2025, subject to customary regulatory approvals and closing conditions.Agreement to Acquire Paramount Group, Inc. 

On September 17, 2025, Rithm Capital and certain of its affiliates (the “Rithm Parties”) entered into an Agreement and Plan of Merger (the “Original Merger Agreement”) with Paramount Group, Inc. (“Paramount”) and Paramount Group Operating Partnership LP (together with Paramount, the “Paramount Parties”). On October 8, 2025, the Rithm Parties and the Paramount Parties entered into Amendment No.1 to the Original Merger Agreement (the “Amendment” and the Original Merger Agreement, as amended by the Amendment, the “Paramount Merger Agreement”), which provides that the amount Paramount will be required to pay Rithm Capital, in connection with the termination of the Paramount Merger Agreement be reduced from $59.7 million to $47.7 million solely in the circumstance where Paramount enters into an alternative acquisition agreement providing for a Superior Proposal (as defined in the Paramount Merger Agreement) with a specified person and/or certain affiliates. Pursuant to the Paramount Merger Agreement, at the effective time, subject to the terms and conditions set forth therein, Rithm Capital will acquire Paramount for a purchase price of approximately $1.6 billion (the “Paramount Acquisition”). The Paramount Acquisition is expected to close in the fourth quarter of 2025, subject to customary closing conditions, including the approval of Paramount’s common stockholders.  

2. BASIS OF PRESENTATION 

Interim Financial Statements — The accompanying consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (“GAAP” or “U.S. GAAP”). In the opinion of management, all adjustments considered necessary for a fair presentation of Rithm Capital’s financial position, results of operations and cash flows have been included and are of a normal and recurring nature. The consolidated financial statements include the accounts of Rithm Capital and its consolidated subsidiaries. All intercompany transactions and balances have been eliminated. Rithm Capital consolidates those entities in which it has control over significant operating, financing and investing decisions of the entity, as well as those entities classified as VIEs in which Rithm Capital is determined to be the primary beneficiary. For entities over which Rithm Capital exercises significant influence,