UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K 

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): March 24, 2020

 

 

GREAT AJAX CORP.

(Exact name of registrant as specified in its charter)

 

 

Maryland   001-36844   47-1271842

(State or other jurisdiction

of incorporation) 

 

(Commission

File Number) 

 

(IRS Employer

Identification No.) 

 

9400 SW Beaverton-Hillsdale Hwy, Suite 131

Beaverton, OR 97005 

  97005
(Address of principal executive offices)   (Zip Code)

 

Registrant’s telephone number, including area code: (503) 505-5670

 

Not Applicable

(Former name or former address, if changed since last report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

  ¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

  ¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

  ¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

  ¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class Trading Symbol(s) Name of each exchange on which registered  
Common stock, par value $0.01 per share AJX New York Stock Exchange  
7.25% Convertible Senior Notes due 2024 AJXA New York Stock Exchange  

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

 

 

 

 

 

Item 8.01 Other Events

 

On March 24, 2020, Great Ajax Corp., a Maryland corporation (the “Company”), issued a press release (the “Press Release”) announcing that the Company will pay its previously declared dividend of $0.32 per share in shares of the Company’s common stock (valued based upon the $9.14 per share closing price on the record date). As previously announced by the Company on February 27, 2020, the dividend will be payable on March 27, 2020 to the Company’s common stockholders of record as of March 17, 2020. A copy of the Press Release is attached hereto as Exhibit 99.1 and is available on the Company’s website.

 

The information provided in Item 8.01 of this report, including Exhibit 99.1, shall be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits

 

Exhibit

  Description
     
99.1   Press Release dated March 24, 2020

 

 

 

 

EXHIBIT INDEX

 

Exhibit

  Description
     
99.1   Press Release dated March 24, 2020

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  GREAT AJAX CORP.
   
     
Date: March 24, 2020 By:

/s/ Mary Doyle 

    Mary Doyle
    Chief Financial Officer

 

 

 

 

Exhibit 99.1

 

Great Ajax Corp. to Pay Previously Announced Dividend in Stock

 

New York, NY—March 24, 2020—Great Ajax Corp. (NYSE: AJX) (the “Company”) announced today that the Company will pay its previously declared dividend of $0.32 per share in shares of the Company’s common stock (valued based upon the $9.14 per share closing price on the record date). As previously announced by the Company on February 27, 2020, the dividend will be payable on March 27, 2020 to the Company’s common stockholders of record as of March 17, 2020.

 

About Great Ajax

 

Great Ajax Corp. is a Maryland corporation that is a real estate investment trust, that focuses primarily on acquiring, investing in and managing re-performing mortgage loans secured by single-family residences and, to a lesser extent, non-performing mortgage loans. The Company also originates loans secured by multi-family residential and smaller commercial mixed use retail/residential properties, and invests in multi-family residential and smaller commercial mixed use retail/residential properties directly. The Company is externally managed by Thetis Asset Management LLC. Its mortgage loans and other real estate assets are serviced by Gregory Funding LLC, an affiliated entity. The Company has elected to be taxed as a real estate investment trust under the Internal Revenue Code.

 

Forward-Looking Statements

 

This press release contains certain forward-looking statements. Words such as “will,” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions, many of which are beyond the control of Great Ajax Corp., including, without limitation, the risk factors and other matters set forth in our Annual Report on Form 10-K for the period ended December 31, 2019 filed with the SEC on March 4, 2020. Great Ajax Corp. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.

 

CONTACT: Lawrence Mendelsohn
  Chief Executive Officer
  Or
  Mary Doyle
  Chief Financial Officer
  Mary.Doyle@aspencapital.com
  503-444-4224