Financial Data and Key Metrics Changes - The company reported GAAP earnings of $2.5 million for Q4, with earnings available for distribution (EAD) at approximately -$500,000, leading to a per diluted share of $0.06 [8] - The company has a negative book value of about $300 million, or $31 per diluted share, and a common stock dividend yield of 8.7% [9] - The company holds around $100 million in cash and liquidity, with total equity in the vehicle at $300 million [7] Business Line Data and Key Metrics Changes - The company is focused on acquiring multifamily loans from its operating business, Genesis, which is projected to produce between $6 billion and $7 billion in loans this year [11] - The company aims to grow earnings to between $1.60 and $1.70 per share, contingent on a recapitalization of the vehicle [5][11] Market Data and Key Metrics Changes - The company is currently trading at roughly 50% of its book value, with stock prices fluctuating between $15 and $16 following a 6-to-1 reverse stock split [4][7] - The commercial real estate sector is experiencing dislocation, with many REITs and BDCs trading poorly, which presents potential opportunities for the company [9][10] Company Strategy and Development Direction - The company plans to reposition itself as a dedicated commercial real estate vehicle and an opportunistic investment vehicle, focusing on capital formation and earnings growth [4][5] - The strategy includes acquiring multifamily loans and expanding into commercial real estate investments, with a focus on opportunistic acquisitions [12][14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the potential for earnings growth and the ability to attract third-party capital, while remaining cautious about market conditions [10][29] - The company is committed to maintaining a clean balance sheet and is patient in its approach to recapitalization, aiming to avoid dilutive actions [10][29] Other Important Information - The company has identified a pool of approximately $1 billion in assets that could be added to the vehicle, subject to board approvals, which would lead to an immediate increase in earnings [30] - Management highlighted the importance of credit quality in sourcing loans, emphasizing a balanced approach between internal and third-party loan origination [39][40] Q&A Session Summary Question: Will RPT receive a slice of the NOI from the Paramount transaction? - Management indicated that RPT has $50 million of the Paramount deal on its balance sheet, and earnings will be pro rata based on Rithm's performance [19] Question: Are there plans to explore more loans from Genesis? - Management confirmed that Genesis is expected to produce $6 billion to $7 billion in loans, and successful capital raises would allow for loans to be added directly to the balance sheet, enhancing earnings [20] Question: Is there a tolerance for finding other sources of capital? - Management acknowledged the potential for third-party capital to be introduced, but emphasized the importance of timing and market conditions [28] Question: What types of loans will be prioritized? - Management stated that the primary focus will be on multifamily loans generated by Genesis, which are expected to be highly accretive [30] Question: Is there an opportunity to acquire from banks? - Management noted that there is currently limited bank selling, but the demand for Genesis's products remains strong, creating opportunities for growth [41]

Michael Nierenberg: away from a small investment that Rithm Property Trust Inc. made in the Paramount transaction that our parent, Rithm, announced in December. The balance sheet cash, the company remains in great shape. During the fourth quarter, we also announced a reverse split of our shares on a 6-to-1. So when you look at it today, with the stock trading between $15 and $16, versus where it was, I think it was something around $2. We feel like it is going to hopefully attract more interest in the stock ...

Core Insights - The INVEST Act, a package of capital-formation bills, was approved by the House with a vote of 302 to 123, indicating bipartisan support for increasing access to private markets [1][2] Group 1: Legislative Changes - The legislation aims to allow more investors access to private markets, facilitating the process for companies to go public and enhancing capital formation for startups [2] - The criteria for becoming an accredited investor will expand beyond wealth or income, allowing individuals to qualify by passing an exam approved by the Securities and Exchange Commission [2] Group 2: Impact on Public Companies - The bill addresses the decline in the number of public companies in the U.S., making it easier for companies to go public and for individuals to invest in new opportunities [3] - The cap for venture capital firms will be raised from $10 million to $50 million, and the number of investors allowed will increase from 250 to 500, easing regulatory burdens [4] Group 3: Market Dynamics - The rise of "unicorn" companies, which are privately held startups valued at $1 billion or more, has created a limited investment landscape for the public, prompting the need for more accessible investment opportunities [5] - The bill is expected to enhance the ability of venture capital firms to invest in one another, potentially increasing funding availability for companies in regions like the Midwest and the South [4] Group 4: Next Steps - The bill will proceed to the Senate, where it is uncertain whether the Senate will adopt the House package, modify it, or create a new bill [6]

Core Insights - Siebert Financial Corp. has opened a new office in Washington, D.C. to enhance its Capital Markets and Investment Banking operations [1][2] - The new office aims to strengthen relationships with policy, regulatory, and industry stakeholders, aligning with opportunities from new administration initiatives [2][3] Company Expansion - The Washington, D.C. office is located at 3000 K Street, N.W., Suite 245 and will be led by Daniel M. Ondeck, Head of Institutional Sales, and Brandon Fry, Managing Director, Debt Sales [1] - This expansion is part of Siebert's strategy to be closer to decision-makers in the capital, facilitating faster responses to market changes [3] Strategic Focus - The D.C. team will collaborate with colleagues in New York and Miami to support issuance, private placements, and structured solutions for corporate and institutional clients [3] - The focus will be on origination, disciplined distribution, and consistent coverage for issuers and investors, translating policy signals into actionable capital solutions [3]

Core Insights - The SEC has appointed James J. Moloney as the new director of the Division of Corporation Finance, effective next month, with a focus on enhancing corporate governance and disclosure practices [8] - The leadership change aligns with the SEC's shift in priorities under President Trump, moving towards a less aggressive regulatory stance, particularly in areas like cryptocurrency [4][7] - Moloney brings extensive experience from his previous tenure at the SEC and his long career at Gibson Dunn, where he specialized in corporate governance, disclosure rules, and mergers and acquisitions [5][6] Division of Corporation Finance - The Division of Corporation Finance is responsible for ensuring that investors receive necessary information for informed investment and voting decisions, particularly during public offerings and ongoing disclosures [3] - The division selectively reviews documents filed by companies during public offerings, business combinations, and proxy solicitations to uphold transparency [3] Leadership and Regulatory Focus - SEC Chairman Paul Atkins emphasized Moloney's extensive experience and understanding of corporate governance, indicating a supportive approach towards innovation and capital formation [8] - Moloney expressed his commitment to developing a clear regulatory framework that benefits both companies and investors, highlighting the need for practical and effective regulations [6]

Core Insights - NeOnc Technologies Holdings, Inc. has achieved a significant milestone by executing a Sub-License Agreement with its Abu Dhabi subsidiary, NuroCure, covering the UAE and wider GCC and MENA region for its therapeutics NEO100 and NEO212 [1][2] - The company is progressing towards a strategic partnership with Quazar Investment, which includes a potential $50 million equity investment aimed at expanding operations in the MENA region [2][5] - NeOnc's inclusion in the Russell Microcap Index is strategically timed with the Quazar partnership to attract institutional capital and enhance market liquidity [3] Company Developments - The Sub-License Agreement is the second of five required conditions for closing the transaction with Quazar, indicating progress in the partnership [2][5] - The proposed capital formation round led by Quazar is priced at $25 per share, with 70% of proceeds allocated for acquiring NeOnc common stock and 30% for clinical trials and infrastructure development in the MENA region [5] - NeOnc's NEO100 and NEO212 therapeutics are currently in Phase II clinical trials and have received FDA Fast-Track and Investigational New Drug (IND) status, showcasing the company's commitment to advancing life-saving therapies [6] Strategic Goals - The completion of the Sub-License Agreement is viewed as a critical step in unlocking the full potential of the $50 million partnership, aimed at delivering long-term value to shareholders [4] - The company is undergoing a transformation from a clinical-stage biotech to a global brain cancer platform, as noted by industry experts [4] - NeOnc has an extensive patent portfolio licensed from the University of Southern California, which supports its drug development efforts and extends patent protections to 2038 [6]

Industry Trends - Onchain trading, capital formation, and payments are approaching a point where they offer superior products compared to offchain alternatives [1] - The industry anticipates rapid changes once the threshold of onchain solutions surpassing offchain options is crossed [1]