Rithm Acquisition Corp. (RAC.U) priced its SPAC IPO in sync with the terms in the prospectus – 20.0 million units at $10.00 each – and raised $200.0 million on Wednesday night, Feb. 26, 2025. Each unit consists of one Class A ordinary share and one-third of one redeemable warrant.
Rithm Acquisition’s units started trading today – Thursday, Feb. 27, 2025 – at $10.01 – up 1 cent from their IPO price – on the New York Stock Exchange. Rithm Acquisition was last trading at $10.02 at around 12:30 p.m. EST.
At the closing bell, Rithm Acquisition’s units closed at $10.05 – their high for their first day of NYSE trading – on volume of 10,136,104 shares.
Citigroup, BTIG and UBS Investment Bank were the joint book-runners.
Rithm Acquisition, based in New York, intends “to target the financial services and real estate sectors, which we believe are at a pivotal moment of transformation and will offer compelling investment opportunities for the foreseeable future,” according to the prospectus.
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