Rhea-AI Summary
Rithm Acquisition Corp. (NYSE: RAC.U), a blank check company, has announced that starting April 21, 2025, unit holders from its initial public offering can separately trade Class A ordinary shares and warrants. The separated securities will trade on the NYSE under symbols 'RAC' and 'RAC.WS', while unseparated units continue under 'RAC.U'.
The SPAC, sponsored by an affiliate of Rithm Capital Corp., targets companies in the financial services and real estate sectors, with a focus on digital infrastructure opportunities. The offering's joint book-running managers were Citigroup Global Markets, BTIG, and UBS Investment Bank. The SEC declared the registration statement effective on February 26, 2025.
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