Rithm Acquisition Corp. (RAC.U) Prices $200M IPO

Rithm Acquisition Corp. (NYSE:RAC.U) announced the pricing of its $200 million IPO and its units are expected to begin trading on the NYSE under the symbol “RAC.U”, Thursday, February 27, 2025.

The new SPAC intends to search for a target in the financial services and real estate sectors where its management team has particular operational experience.

The team is led by CEO and Chairman Michael Nierenberg and CFO Varun Wadhawan. Elizabeth Fascitelli and Gary Kalk will serve as Directors.

Total SPAC deal count for 2025 year-to-date is now 13. This offering is expected to close on Friday, February 28, 2025.

Citigroup Global Markets Inc., BTIG, LLC and UBS Investment Bank are serving as the joint book-running managers for the offering. Davis Polk & Wardwell LLP is serving as Issuer’s Counsel with Kirkland & Ellis LLP serving as Underwriter’s Counsel. WithumSmith+Brown, PC serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.