# EDGAR Filing Document

**Accession Number:** 0001556593
**File Stem:** 0001104659-26-005365
**Filing Date:** 2026-1
**Character Count:** 23663
**Document Hash:** c7f0b4390822dd3bcd87fa8ed6b820bd
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-26-005365.hdr.sgml**: 20260121

**ACCESSION NUMBER**: 0001104659-26-005365

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20260121

**ITEM INFORMATION**: Material Modifications to Rights of Security Holders

**ITEM INFORMATION**: Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260121

**DATE AS OF CHANGE**: 20260121

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Rithm Capital Corp.
- **CENTRAL INDEX KEY:** 0001556593
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 453449660
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-35777
- **FILM NUMBER:** 26547824

**BUSINESS ADDRESS:**
- **STREET 1:** 799 BROADWAY
- **CITY:** New York
- **STATE:** NY
- **ZIP:** 10003
- **BUSINESS PHONE:** (212) 850-7770

**MAIL ADDRESS:**
- **STREET 1:** 799 BROADWAY
- **CITY:** New York
- **STATE:** NY
- **ZIP:** 10003

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** New Residential Investment Corp.
- **DATE OF NAME CHANGE:** 20121227

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** New Residential Investment LLC
- **DATE OF NAME CHANGE:** 20121214

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Spinco Inc.
- **DATE OF NAME CHANGE:** 20120821

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15(d) OF THE**

**SECURITIES EXCHANGE ACT OF 1934**

**Date of Report (Date of earliest event reported): January 21, 2026**

**Rithm Capital Corp.**

**(Exact name of registrant as specified in its charter)**

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| | | |
|:---|:---|:---|
|  | **Delaware** |  |
|  | **(State or other jurisdiction of incorporation)** |  |
| **001-35777** |  | **45-3449660** |
| **(Commission File Number)** |  | **(IRS Employer Identification No.)** |

---

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| | |
|:---|:---|
| **799 Broadway New York New York** | **10003** |
| **(Address of principal executive offices)** | **(Zip Code)** |

---

**Registrant's telephone number, including area code (212) 850-7770**

**(Former name or former address, if changed since last report.)**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

◻ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

◻ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

◻ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

◻ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **<u>Title of each class:</u>** | **<u>Trading</u> <u><br> Symbols:</u>** | **<u>Name of each exchange on which</u> <u><br> registered:</u>** |
| Common Stock, $0.01 par value per share | RITM | New York Stock Exchange |
| 7.50% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock | RITM PR A | New York Stock Exchange |
| 7.125% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock | RITM PR B | New York Stock Exchange |
| 6.375% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock | RITM PR C | New York Stock Exchange |
| 7.00% Fixed-Rate Reset Series D Cumulative Redeemable Preferred Stock | RITM PR D | New York Stock Exchange |
| 8.750% Series E Fixed-Rate Cumulative Redeemable Preferred Stock | RITM PR E | New York Stock Exchange |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ◻

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

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| | |
|:---|:---|
| **Item 3.03.** | **Material Modifications to Rights of Security Holders.** |

---

On January 21, 2026, the Company filed a Certificate of Designations (the "Certificate of Designations") with the Secretary of State of the State of Delaware to designate 11,500,000 shares of the Company's authorized preferred stock as the 8.750% Series F Fixed-Rate Reset Cumulative Redeemable Preferred Stock, par value $0.01 per share, with a liquidation preference of $25.00 per share ("Series F Preferred Stock"), with the powers, designations, preferences and other rights as set forth therein. The Certificate of Designations became effective upon filing on January 21, 2026.

The Certificate of Designations provides that the Company will pay, when, as and if declared by the Company's board of directors, out of funds legally available for the payment of dividends, quarterly cumulative cash dividends on the Series F Preferred Stock, in arrears, on or about the 15th day of each February, May, August and November (provided that if any dividend payment date is not a business day, then the dividend which would otherwise have been payable on that dividend payment date may be paid on the next succeeding business day) (i) for each dividend period from, and including, January 21, 2026 to, but excluding, February 15, 2031 (the "First Reset Date"), 8.750% per annum, and (ii) for each dividend period beginning on the First Reset Date, during each reset period, the five-year treasury rate as of the most recent Reset Dividend Determination Date (as defined in the Certificate of Designations) plus 5.009% per annum.

The Series F Preferred Stock ranks senior to the Company's common stock, with respect to the payment of dividends and rights upon the voluntary or involuntary liquidation, dissolution or winding up of the Company.

The Series F Preferred Stock will not be redeemable before February 15, 2031, except under certain limited circumstances intended to preserve the Company's qualification as a real estate investment trust ("REIT") for U.S. federal income tax purposes and except upon the occurrence of a Change of Control (as defined in the Certificate of Designations). On or after February 15, 2031, the Company may, at its option, upon not less than 30 nor more than 60 days' written notice, redeem the Series F Preferred Stock, in whole or in part, at any time or from time to time, for cash at a redemption price of $25.00 per share, plus any accumulated and unpaid dividends thereon (whether or not authorized or declared) to, but excluding, the redemption date, without interest.

Upon the occurrence of a Change of Control, the Company may, as its option, upon not less than 30 nor more than 60 days' written notice, redeem the Series F Preferred Stock, in whole or in part, within 120 days after the first date on which such Change of Control occurred, for cash at a redemption price of $25.00 per share, plus any accumulated and unpaid dividends thereon (whether or not authorized or declared) to, but excluding, the redemption date, without interest. The Series F Preferred Stock has no stated maturity, is not subject to any sinking fund or mandatory redemption and will remain outstanding indefinitely unless repurchased or redeemed by the Company or converted into the Company's common stock in connection with a Change of Control by the holders of Series F Preferred Stock.

Upon the occurrence of a Change of Control, each holder of Series F Preferred Stock will have the right (subject to the Company's election to redeem the Series F Preferred Stock, in whole or in part, as described above, prior to the Change of Control Conversion Date (as defined in the Certificate of Designations)) to convert some or all of the Series F Preferred Stock held by such holder on the Change of Control Conversion Date into a number of shares of the Company's common stock per share of Series F Preferred Stock determined by formula, in each case, on the terms and subject to the conditions described in the Certificate of Designations, including provisions for the receipt, under specified circumstances, of alternative consideration.

There are restrictions on ownership of the Series F Preferred Stock intended to preserve the Company's qualification as a REIT. Holders of Series F Preferred Stock generally have no voting rights, but have limited voting rights if the Company fails to pay dividends for six or more full quarterly dividend periods (whether or not consecutive) and under certain other circumstances.

The foregoing description of the terms of the Series F Preferred Stock is qualified in its entirety by reference to the Certificate of Designations, a copy of which is filed as Exhibit 3.10 to the Company's Form 8-A filed on January 21, 2026 and is incorporated herein by reference. A copy of the form of a certificate representing Series F Preferred Stock is filed as Exhibit 4.1 to the Company's Form 8-A filed on January 21, 2026 and is incorporated herein by reference.

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| | |
|:---|:---|
| **Item 5.03.** | **Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.** |

---

The information about the Certificate of Designations set forth under Item 3.03 of this Current Report on Form 8-K is hereby incorporated by reference into this Item 5.03.

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| | |
|:---|:---|
| **Item 9.01.** | **Financial Statements and Exhibits.** |

---

(d) Exhibits. The following exhibits are being filed herewith:

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| | |
|:---|:---|
| **No.** | **Description** |
| [3.1](https://www.sec.gov/Archives/edgar/data/1556593/000110465926005261/tm263657d2_ex3-10.htm) | [Certificate of Designations of Rithm Capital Corp., designating the Company's 8.750% Series F Fixed-Rate Reset Cumulative Redeemable Preferred Stock, par value $0.01 per share (filed with the SEC as Exhibit 3.10 on Form 8-A filed on January 21, 2026 and incorporated herein by reference).](https://www.sec.gov/Archives/edgar/data/1556593/000110465926005261/tm263657d2_ex3-10.htm) |
| [4.1](https://www.sec.gov/Archives/edgar/data/1556593/000110465926005261/tm263657d2_ex4-1.htm) | [Form of certificate representing the 8.750% Series F Fixed-Rate Reset Cumulative Redeemable Preferred Stock of Rithm Capital Corp. (filed with the SEC as Exhibit 4.1 on Form 8-A on January 21, 2026 and incorporated herein by reference).](https://www.sec.gov/Archives/edgar/data/1556593/000110465926005261/tm263657d2_ex4-1.htm) |
| [5.1](tm263657d1_ex5-1.htm) | [Opinion of Skadden, Arps, Slate, Meagher & Flom LLP.](tm263657d1_ex5-1.htm) |
| [23.1](tm263657d1_ex5-1.htm) | [Consent of Skadden, Arps, Slate, Meagher & Flom LLP (included in Exhibit 5.1).](tm263657d1_ex5-1.htm) |
| 104 | Cover Page Interactive Data File — the cover page XBRL tags are embedded within the Inline XBRL document. |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: January 21, 2026

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| | |
|:---|:---|
| RITHM CAPITAL CORP. | RITHM CAPITAL CORP. |
| By: | /s/ Nicola Santoro, Jr. |
|  | Nicola Santoro, Jr. |
|  | Chief Financial Officer and Chief Accounting Officer |

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## Exhibit 5.1

**Exhibit 5.1**

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| | |
|:---|:---|
| Skadden, Arps, Slate, Meagher & Flom llp |  |
| One Manhattan West |  |
| New York, NY 10001 | &nbsp;&nbsp;FIRM/AFFILIATE OFFICES |
|  | &nbsp;&nbsp;----------- |
| TEL: (212) 735-3000 | &nbsp;&nbsp;BOSTON |
| FAX: (212) 735-2000 | &nbsp;&nbsp;CHICAGO |
| www.skadden.com | &nbsp;&nbsp;HOUSTON |
|  | &nbsp;&nbsp;LOS ANGELES |
|  | &nbsp;&nbsp;PALO ALTO |
|  | &nbsp;&nbsp;WASHINGTON, D.C. |
|  | &nbsp;&nbsp;WILMINGTON |
|  | &nbsp;&nbsp;----------- |
|  | &nbsp;&nbsp;ABU DHABI |
|  | &nbsp;&nbsp;BEIJING |
|  | &nbsp;&nbsp;BRUSSELS |
|  | &nbsp;&nbsp;FRANKFURT |
|  | &nbsp;&nbsp;HONG KONG |
|  | &nbsp;&nbsp;LONDON |
|  | &nbsp;&nbsp;MUNICH |
|  | &nbsp;&nbsp;PARIS |
|  | &nbsp;&nbsp;SÃO PAULO |
|  | &nbsp;&nbsp;SEOUL |
|  | &nbsp;&nbsp;SINGAPORE |
|  | &nbsp;&nbsp;TOKYO |
|  | &nbsp;&nbsp;TORONTO |

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January 21, 2026

Rithm Capital Corp.

799 Broadway

New York, New York 10003

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| | |
|:---|:---|
| Re: | <u>Rithm Capital Corp. - Offering of 8.750% Series F Fixed-Rate Reset Cumulative Redeemable Preferred Stock</u> |

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Ladies and Gentlemen:

We have acted as special United States counsel to Rithm Capital Corp., a Delaware corporation (the "Company"), in connection with the public offering by the Company of 10,000,000 shares (the "Firm Shares") of the Company's 8.750% Series F Fixed-Rate Reset Cumulative Redeemable Preferred Stock, par value $0.01 per share ("Preferred Stock"), and up to an additional 1,500,000 shares (the "Option Shares") of the Preferred Stock at the option of the Underwriters (as defined below). The Firm Shares and the Option Shares are collectively referred to herein as the "Securities."

This opinion letter is being furnished in accordance with the requirements of Item 601(b)(5) of Regulation S-K under the Securities Act of 1933 (the "Securities Act").

In rendering the opinions stated herein, we have examined and relied upon the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the registration statement on Form S-3 (File No. 333-289162) of the Company relating to the Common Stock and other securities of the Company filed with the Securities and Exchange Commission (the "Commission") on August 1, 2025 under the Securities Act allowing for delayed offerings pursuant to Rule 415 of the General Rules and Regulations under the Securities Act (the "Rules and Regulations"), including information deemed to be a part of the registration statement pursuant to Rule 430B of the Rules and Regulations (such registration statement being hereinafter referred to as the "Registration Statement");

Rithm Capital Corp.

January 21, 2026<br> Page 2

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the prospectus, dated August 1, 2025 (the "Base Prospectus"), which forms a part of and is included in the Registration Statement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the preliminary prospectus supplement, dated January 13, 2026 (together with the Base Prospectus, the "Preliminary Prospectus"), relating to the offering of the Securities, in the form filed with the Commission pursuant to Rule 424(b) of the Rules and Regulations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the prospectus supplement, dated January 13, 2026 (together with the Base Prospectus, the "Prospectus"), relating to the offering of the Securities, in the form filed with the Commission pursuant to Rule 424(b) of the Rules and Regulations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) an executed copy of the Underwriting Agreement, dated January 13, 2026 (the "Underwriting Agreement"), by and between the Company and Morgan Stanley & Co. LLC, as representative of the several Underwriters named therein (the "Underwriters"), relating to the sale by the Company to the Underwriters of the Securities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) an executed copy of a certificate of Philip Sivin, Secretary of the Company, dated the date hereof (the "Secretary's Certificate");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) a copy of the Company's Amended and Restated Certificate of Incorporation (the "Certificate of Incorporation"), certified by the Secretary of State of the State of Delaware as of January 13, 2026, and certified pursuant to the Secretary's Certificate as being in effect on the date of the written consents referred to below and as of the date hereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) a copy of the Company's amended and restated bylaws, as amended (the "Bylaws"), certified pursuant to the Secretary's Certificate as being in effect on the date of the written consents referred to below and as of the date hereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) a copy of certain actions by written consent adopted by the Board of Directors of the Company, dated as of January 9, 2026, and a copy of a written consent of the Pricing Committee of the Board of Directors of the Company, dated as of January 13, 2026,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) an executed certificate evidencing the Securities, registered in the name of Cede & Co; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) the Certificate of Designations (the "Certificate of Designations") relating to the Preferred Stock, certified by the Secretary of State of the State of Delaware as of January 21, 2026, and certified pursuant to the Secretary's Certificate.

We have also examined originals or copies, certified or otherwise identified to our satisfaction, of such records of the Company and such agreements, certificates and receipts of public officials, certificates of officers or other representatives of the Company and others, and such other documents as we have deemed necessary or appropriate as a basis for the opinions stated below.

Rithm Capital Corp.

January 21, 2026<br> Page 3

In our examination, we have assumed the genuineness of all signatures, including electronic signatures, the legal capacity and competency of all natural persons, the authenticity of all documents submitted to us as originals, the conformity to original documents of all documents submitted to us as facsimile, electronic, certified or photocopied copies, and the authenticity of the originals of such copies. As to any facts relevant to the opinions stated herein that we did not independently establish or verify, we have relied upon statements and representations of officers and other representatives of the Company and others and of public officials, including the facts and conclusions set forth in the Secretary's Certificate, the Certificate of Incorporation and the Certificate of Designations and the factual representations and warranties set forth in the Underwriting Agreement.

We do not express any opinion with respect to the laws of any jurisdiction other than the General Corporation Law of the State of Delaware (the "DGCL").

As used herein, "Organizational Documents" means those documents listed in paragraphs (g) and (h) above.

Based upon the foregoing and subject to the qualifications and assumptions stated herein, we are of the opinion that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Securities have been duly authorized by all requisite corporate action on the part of the Company under the DGCL and, when the Preferred Stock Certificate is duly executed and delivered against payment therefor in accordance with the terms of the Underwriting Agreement, the Securities will be validly issued, fully paid and nonassessable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The maximum number of 50,438,540 shares (the "Conversion Shares") of the Company's common stock, par value $0.01 per share (the "Common Stock"), issuable upon conversion of the Securities pursuant to the Certificate of Designations have been duly authorized by all requisite corporate action on the part of the Company under the DGCL and, when issued in accordance with the Certificate of Designations, will be validly issued, fully paid and nonassessable.

In addition, in rendering the foregoing opinions we have assumed that at all applicable times:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Company's issuance of the Securities does not and the Company's issuance of the Securities and the Conversion Shares will not (i) except to the extent expressly stated in the opinions contained herein, violate any statute to which the Company or such issuance is subject, or (ii) constitute a violation of, or a breach under, or require the consent or approval of any other person under, any agreement or instrument binding on the Company (except that we do not make this assumption with respect to the Organizational Documents or those agreements or instruments expressed to be governed by the laws of the State of New York which are listed in Part II of the Registration Statement or the Company's Annual Report on Form 10-K for the year ended December 31, 2024, although we have assumed compliance with any covenant, restriction or provision with respect to financial ratios or tests or any aspect of the financial condition or results of operations of the Company contained in such agreements or instruments) and that the Company will continue to have sufficient authorized shares of Common Stock; and

Rithm Capital Corp.

January 21, 2026<br> Page 4

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Company's authorized capital stock is as set forth in the Certificate of Incorporation and the Certificate of Designations, and we have relied solely on the copies thereof issued by the Secretary of State of the State of Delaware and have not made any other inquiries or investigations.

This opinion letter shall be interpreted in accordance with customary practice of United States lawyers who regularly give opinions in transactions of this type.

We hereby consent to the reference to our firm under the heading "Legal Matters" in the Preliminary Prospectus and the Prospectus. We also hereby consent to the filing of this opinion letter with the Commission as an exhibit to the Company's Current Report on Form 8-K being filed on the date hereof and incorporated by reference into the Registration Statement. In giving this consent, we do not thereby admit that we are within the category of persons whose consent is required under Section 7 of the Securities Act or the Rules and Regulations. This opinion letter is expressed as of the date hereof unless otherwise expressly stated, and we disclaim any undertaking to advise you of any subsequent changes in the facts stated or assumed herein or of any subsequent changes in applicable laws.

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| |
|:---|
| Very truly yours, |
| /s/ Skadden, Arps, Slate, Meagher & Flom LLP |

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