CUSIP No.

38983D300

1

NAMES OF REPORTING PERSONS
Magnetar Xing He Master Fund Ltd

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

2

(a)

o

(b)

x

3

SEC USE ONLY

4

CITIZENSHIP OR PLACE OF ORGANIZATION

Cayman Islands

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH:

5

SOLE VOTING POWER

6

SHARED VOTING POWER

1,500,000

7

SOLE DISPOSITIVE POWER

8

SHARED DISPOSITIVE POWER

1,500,000

9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

1,500,000

10

CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) 

o

11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

6.14%

12

Type of Reporting Person (See Instructions)
OO

Item 1(a)

Name of Issuer.

Great Ajax Corp. (the “Issuer”)

Item 1(b)

Address of Issuer’s Principal Executive Offices.

9400 SW Beaverton-Hillsdale Hwy, Suite 131, Beaverton, OR 97005

Item 2(a)

Name of Person Filing.

Magnetar Xing He Master Fund Ltd

Item 2(b)

Address of Principal Business Office.

1603 Orrington Avenue, Suite 1300

Evanston, Illinois, 60201

Item 2(c)

Place of Organization.

Cayman Islands exempted company

Item 2(d)

Title of Class of Securities.

Common Stock, par value $0.01 per share (the “Shares”)

Item 2(e)

CUSIP Number.

38983D300

Item 3

Reporting Person.

Not Applicable

Item 4

Ownership.

Item 4(a)

Amount Beneficially Owned:

As of August 11, 2020, Magnetar Xing He Master Fund Ltd held 1,500,000 Series B Warrants to purchase up to an aggregate 1,500,000 Shares.

Item 4(b)

Percent of Class:

As of August 11, 2020, Magnetar Xing He Master Fund Ltd was deemed to be the beneficial owner constituting approximately 6.14% of the total number of Shares outstanding (based upon 24,424,982 shares of Common Stock outstanding as of August 3, 2020 (calculated pursuant to Rule 13d-3(d)(1)(i)), which includes (i) 22,924,982 shares of Common Stock as disclosed in the Issuer’s quarterly report on Form 10-Q filed with the Securities and Exchange Commission on August 5, 2020 and (ii) the assumed exercise of 1,500,000 warrants for shares of Common Stock.).

Item4(c)

Number of Shares of which such person has:

(i)

Sole power to vote or to direct the vote:

0

(ii)

Shared power to vote or to direct the vote:

1,500,000

(iii)

Sole power to dispose or to direct the disposition of:

0

(iv)

Shared power to dispose or to direct the disposition of:

1,500,000

Item 5

Ownership of Five Percent or Less of a Class.

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following [ ].

Item 6

Ownership of More Than Five Percent on Behalf of Another Person.

Not applicable

Item 7

Identification and Classification of the Subsidiary which Acquired the Security Being Reported On by the Parent Holding Company.

Not Applicable

Item 8

Identification and Classification of Members of the Group.

Not Applicable

Item 9

Notice of Dissolution of Group.

Not Applicable

Item 10

Certification.

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

Date: August 11, 2020

MAGNETAR XING HE MASTER FUND LTD

By:

Magnetar Financial LLC,

its Investment Manager

By:

 /s/ Michael Turro

Name:

Michael Turro

Title:

Chief Compliance Officer