Great Ajax Corp. announced that it has entered into a securities purchase agreement with new investor, Rithm Capital Corp. to issue 2,874,743 shares of Common Stock, at a purchase price per share of $4.87 , which represents the trailing five-day average closing price of the Common Stock on the NYSE as of the date hereof and five-year warrants to purchase shares of common stock of the company at an exercise price per Warrant Share set at a 10% premium to the trailing five-day average closing price of the common stock on the New York Stock Exchange for gross proceeds of approximately $14,000,000 on February 26, 2024.

The number of warrant shares for which the Warrants may be exercised will equal the greater of 50% of the amount drawn under the Facility and $35 million, in each case, divided by the exercise price per share. Pursuant to the Purchase Agreement, the Company, in a private placement made in reliance on the exemption from the registration requirement of the Securities Act of 1933, as amended. The Shares to be purchased pursuant to the Private Placement will be issued following receipt of approval of the Company?s stockholders and the satisfaction of certain other closing conditions.