Rithm Acquisition Corp. (RAC), a special purpose acquisition company (SPAC) that was created solely to raise money through an initial public offering (IPO) in order to acquire another company, recently closed its IPO of 23 million units.

Per RAC, each $10 unit consists of one Class A ordinary share and one-third of a redeemable warrant at $11.50 per share.

RAC intends to use the expertise and resources of its parent company, Rithm Capital Corp. to find and acquire a private company that has strong long-term growth potential.

Thursday’s announcement came after the company stated its intent last month to raise details ⇒

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