Business Context and Reporting Period
This Form 8-K was filed by New Residential Investment Corp. (NRZ) on May 19, 2021. The filing reports on an amendment to the Company's existing "at-the-market" (ATM) equity offering program, originally established in July 2018 and amended in August 2019.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on the administrative amendment of a securities distribution agreement.
Material Changes
On May 19, 2021, the Company executed Amendment No. 2 to its Distribution Agreement. The primary material change is the addition of new sales agents to the ATM Program. The updated list of sales agents now includes:
- BofA Securities, Inc.
- Barclays Capital Inc.
- BTIG, LLC
- Citigroup Global Markets Inc.
- Credit Suisse Securities (USA) LLC
- J.P. Morgan Securities LLC
- Nomura Securities International, Inc.
- Raymond James & Associates, Inc.
- RBC Capital Markets, LLC
- Wells Fargo Securities, LLC
The aggregate offering price for the ATM Shares remains up to $500 million.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, or outlook for future periods. No specific risks or contingencies are detailed in this report beyond the standard reference to the full text of the Amendment No. 2 filed as Exhibit 1.1.
Investor Verification Checklist
- Verify the full text of Amendment No. 2 to the Distribution Agreement filed as Exhibit 1.1 for specific terms regarding the new sales agents.
- Confirm the remaining capacity under the $500 million ATM Program by reviewing recent 10-Q or 10-K filings.
- Review the Company's shelf registration statement (File No. 333-232952) for the status of the offering.