We advised Rithm Acquisition Corp., a SPAC, on its IPO and NYSE listing

Davis Polk advised Rithm Acquisition Corp. on its $230 million initial public offering of 23,000,000 units. Each unit had an initial offering price of $10 and consists of one Class A ordinary share and one-third of one redeemable warrant. The units, the shares and the warrants are listed on the New York Stock Exchange.

Rithm Acquisition Corp. is a special purpose acquisition company (SPAC) incorporated for the purpose of effecting a business combination with one or more businesses or entities. The SPAC is sponsored by Rithm Capital Corp., which is global asset manager focused on real estate, credit and financial services. Rithm Capital Corp. is listed on the New York Stock Exchange under the ticker “RITM.”

The Davis Polk corporate team included partner Derek Dostal and associates Juan Diego Tibaduiza and Kanger Jin. The tax team included counsel Yixuan Long and associate Yueyu Yang. All members of the Davis Polk team are based in the New York office.

 

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