Company: RITM-PC
Filing Date: 2025-09-19
Form Type: 424B5
Source: 0001140361-25-035596
Chunk: 23

Company: Rithm Capital Corp.
Filing Date: 2025-09-19
Form: 424B5
Chunk 23
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 holder as described under “Description of the Series E Preferred Stock—Redemption Optional Redemption” or “—Special Optional Redemption,” in which case such holder will have the right only with respect to shares of the Series E Preferred Stock that are not called for redemption) to convert some or all of such holder’s Series E Preferred Stock into shares of common stock (or, under specified circumstances, certain alternative consideration). Notwithstanding that we generally may not redeem the Series E Preferred Stock prior to November 15, 2030, we have a special optional redemption right to redeem the Series E Preferred Stock in the event of a Change of Control, and holders of the Series E Preferred Stock will not have the right to convert any shares of the Series E Preferred Stock that we have elected to redeem prior to the Change of Control Conversion Date. Please see the sections entitled “Description of the Series E Preferred Stock—Redemption—Special Optional Redemption” and “Description of the Series E Preferred Stock—Conversion Rights.”

If we do not elect to redeem the Series E Preferred Stock prior to the Change of Control Conversion Date, then upon an exercise of the conversion rights provided for in this prospectus supplement, the holders of the Series E**

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Preferred Stock will be limited to a maximum number of shares of our common stock (or, if applicable, the Alternative Conversion Consideration (as defined herein)) equal to the Share Cap multiplied by the number of the shares of the Series E Preferred Stock converted. If the Common Stock Price is less than $6.23 (which is 50% of the per share closing sale price of our common stock reported on the NYSE on September 17, 2025), subject to adjustment in certain circumstances, the holders of the Series E Preferred Stock will receive a maximum of 4.01284 shares of our common stock per share of the Series E Preferred Stock, which may result in a holder receiving shares of common stock (or Alternative Conversion Consideration, as applicable) with a value that is less than the liquidation preference of the Series E Preferred Stock plus any accumulated and unpaid dividends. In addition, the Change of Control conversion feature of the Series E Preferred Stock may have the effect of discouraging a third party from making an acquisition proposal for us or of delaying, deferring or preventing certain of our change of control transactions under circumstances that otherwise could provide the holders of our common stock and Series E Preferred Stock with the opportunity to realize a premium over the then-current