Filing Analysis
Ready Capital Corporation has released its quarterly earnings results for the period ending June 30, 2026. The filing serves as a formal announcement of financial performance and supplemental data via an earnings release.
📋 Key Facts
- Earnings release issued on August 6, 2026, for the quarter ended June 30, 2026.
- Supplemental financial information provided via the company's Investor Relations website.
- The filing includes Exhibit 99.1 (Earnings Release) and Exhibit 99.2 (Supplemental Financial Information).
Ready Capital Corporation held its annual meeting of stockholders on July 17, 2026. The filing reports the results of shareholder votes regarding director elections, auditor ratification, executive compensation, and an equity incentive plan.
📋 Key Facts
- Annual meeting held via virtual live internet session on July 17, 2026.
- All seven director nominees were elected to serve until the 2027 annual meeting.
- Stockholders ratified Deloitte & Touche LLP as independent registered public accounting firm for fiscal year 2026.
- Advisory vote approved compensation of named executive officers.
- Stockholders approved and adopted the Amended and Restated Ready Capital Corporation 2023 Equity Incentive Plan.
Ready Capital Corporation announced its financial results for the first quarter ended March 31, 2026. The filing serves as a formal notification of the earnings release and the availability of supplemental financial information.
📋 Key Facts
- Earnings release for the quarter ended March 31, 2026, was issued on May 7, 2026.
- Supplemental financial information was posted to the company's Investor Relations website on the same day.
- The company has 9.00% Senior Notes due 2029 (RCD) registered on the New York Stock Exchange.
- The filing was made under Item 2.02 (Results of Operations and Financial Condition).
Ready Capital Corporation has issued a notice to redeem all of its outstanding 6.20% Senior Notes due 2026. The redemption is scheduled for April 22, 2026, at a price of 100% of the principal amount plus accrued interest.
📋 Key Facts
- Notice of redemption issued on March 23, 2026.
- Target security is the 6.20% Senior Notes due 2026 (Trading Symbol: RCB).
- Redemption Date is set for April 22, 2026.
- Redemption price is 100% of the principal amount plus accrued and unpaid interest.
- The company intends to fund the redemption using available cash.
Ready Capital Corporation announced its financial results for the fourth quarter ended December 31, 2025. The company also provided supplemental financial information via its website and attached exhibits.
📋 Key Facts
- Earnings release for the quarter ended December 31, 2025, was issued on February 26, 2026.
- Supplemental financial information was posted to the Investor Relations section of the company's website.
- The filing includes Exhibit 99.1 (Earnings Release) and Exhibit 99.2 (Supplemental Financial Information).
- The information was furnished under Item 2.02 and is not deemed 'filed' for Section 18 purposes.
Ready Capital Corporation filed an 8-K to announce its financial results for the quarter ended September 30, 2025. The filing includes a formal earnings release and supplemental financial information.
📋 Key Facts
- Earnings release issued on November 6, 2025, for the quarter ending September 30, 2025.
- Supplemental financial information provided via Exhibit 99.2.
- The report was signed by Andrew Ahlborn, Chief Financial Officer.
This is an amendment to a previous 8-K filing regarding the outcome of shareholder votes at the company's annual meeting held on June 25, 2025. The primary purpose of this amendment is to disclose that shareholders have determined the frequency for future 'Say-on-Pay' advisory votes.
📋 Key Facts
- The filing is an Amendment (Form 8-K/A) to an Original 8-K filed on July 1, 2025.
- Shareholders voted at the Annual Meeting held on June 25, 2025.
- The company has determined to hold Say-on-Pay Votes every year until the next required advisory vote regarding frequency.
Ready Capital Corporation filed an 8-K to provide an investor presentation as part of management's scheduled meetings with investors starting the week of September 8, 2025.
📋 Key Facts
- Management is conducting a series of investor presentations beginning the week of September 8, 2025.
- The company attached an investor presentation as Exhibit 99.1.
- Information provided under Item 7.01 is not considered 'filed' for purposes of Section 18 liability.
Ready Capital Corporation issued an 8-K to announce its financial results for the quarter ended June 30, 2025. The filing includes an earnings release and supplemental financial information.
📋 Key Facts
- Earnings release issued on August 8, 2025, for the quarter ended June 30, 2025.
- Supplemental financial information was posted to the company's Investor Relations website.
- The filing includes details regarding various securities including Common Stock, Series C and E Preferred Stock, and multiple tranches of Senior Notes due in 2026 and 2029.
Ready Capital Corporation held its annual meeting of stockholders on June 25, 2025. The filing reports the results of shareholder votes regarding director elections, auditor ratification, and executive compensation.
📋 Key Facts
- Annual Meeting held virtually on June 25, 2025.
- All seven director nominees were elected to serve until the 2026 annual meeting.
- Deloitte & Touche LLP was ratified as the independent registered public accounting firm for fiscal year 2025 with over 121 million votes in favor.
- Shareholders approved executive compensation on an advisory basis (Say-on-Pay).
- Shareholders voted to set the frequency of future Say-on-Pay votes at a 1-year interval.
Ready Capital Corporation issued an 8-K to announce its quarterly earnings results for the period ended March 31, 2025. The filing includes the official earnings release and supplemental financial information.
📋 Key Facts
- Earnings release issued on May 8, 2025, for the quarter ended March 31, 2025.
- Supplemental financial information provided via the company's Investor Relations website.
- The filing includes details regarding various securities including Common Stock, Series C Preferred Stock, and several tranches of Senior Notes due in 2026 and 2029.
Ready Capital Corporation has filed a new S-3 registration statement to replace its previous 2022 Registration Statement and issued a prospectus supplement related to an existing $150 million At-the-Market (ATM) equity offering.
🚩 Red Flags
- Continued use of an At-the-Market (ATM) offering can lead to shareholder dilution if the company uses it to raise capital for operations or debt management.
📋 Key Facts
- Filed a new S-3 registration statement on March 21, 2025, replacing the 2022 Registration Statement.
- Issued a prospectus supplement pursuant to Rule 424(b)(3) for unsold shares in the Common ATM Offering.
- The existing Equity Distribution Agreement with JMP Securities LLC allows for an aggregate offering price of up to $150,000,000.
- The filing includes legality and tax opinions from Alston & Bird LLP.
Ready Capital Corporation has consummated its merger with United Development Funding IV (UDF IV) as of March 13, 2025. The transaction involves the issuance of common stock and Contingent Value Rights (CVRs) to UDF IV shareholders based on future cash proceeds from a specific loan portfolio.
🚩 Red Flags
- Issuance of Contingent Value Rights (CVRs) introduces potential future dilution and complexity regarding loan recovery performance.
- Complexity in payout structure for CVR holders based on 'net Proceeds' after costs/expenses could lead to disputes or unexpected dilution.
📋 Key Facts
- Merger consummated on March 13, 2025, between Ready Capital Corporation and United Development Funding IV.
- UDF IV common shares converted into 12,767,472 shares of Ready Capital Common Stock (approx. 7% of the combined company) plus CVRs and cash for fractional shares.
- A Contingent Value Rights (CVR) Agreement was entered into with Computershare Inc. to handle CVR distributions.
- CVRs are tied to cash proceeds from a 'Portfolio Loans' group; once principal is recovered, Ready Capital retains 40% of net proceeds and CVR holders receive 60% in the form of common stock.
- The merger involves the conversion of UDF IV RSUs into Ready Capital Common Stock and CVRs.
Ready Capital Corporation filed an 8-K to announce its financial results for the quarter ended December 31, 2024. The filing includes an earnings release and supplemental financial information.
📋 Key Facts
- Report date: March 3, 2025
- Reporting period: Quarter ended December 31, 2024
- The company issued an earnings release (Exhibit 99.1) and supplemental financial information (Exhibit 99.2).
- The filing is pursuant to Item 2.02 regarding Results of Operations and Financial Condition.
Ready Capital Corporation's subsidiary, ReadyCap Holdings, LLC, closed a $220.0 million private placement of 9.375% Senior Secured Notes due 2028. The proceeds are intended for debt repayment and general corporate purposes.
🚩 Red Flags
- High interest rate (9.375%) on the new senior secured notes suggests higher cost of capital or increased risk profile in current market conditions.
- Significant use of first-priority liens on key subsidiaries to secure the debt.
📋 Key Facts
- Closed a private placement of $220.0 million in aggregate principal amount of 9.375% Senior Secured Notes due 2028.
- The notes were issued by ReadyCap Holdings, LLC (an indirect subsidiary).
- Obligations are fully and unconditionally guaranteed by the parent company and several subsidiaries including SubREIT II and RCSR I/II.
- Notes are secured by a first-priority lien on assets of RCSR I, RCSR II, and capital stock of multiple subsidiaries.
- Proceeds are earmarked for debt repayment and general corporate purposes.
Ready Capital Corporation announced that its Board of Directors has approved a new stock repurchase program. The program authorizes the company to repurchase up to $150.0 million of its common stock.
📋 Key Facts
- Board approval for a new stock repurchase program on January 16, 2025.
- Total authorization amount: $150.0 million.
- Repurchases will be made from time to time via open market or privately negotiated transactions.
- Transactions may be executed under Rule 10b5-1 and Rule 10b-18 plans.
Ready Capital Corporation filed this 8-K to provide pro forma financial information following the consummation of its merger with Broadmark Realty Capital Inc. on May 31, 2023.
📋 Key Facts
- The merger between Ready Capital and Broadmark Realty Capital Inc. closed on May 31, 2023.
- Broadmark Merger Sub, LLC (a subsidiary of Ready Capital) is the surviving entity in the transaction.
- The filing provides unaudited pro forma condensed combined financial information for the year ended December 31, 2023.
- The merger was governed by an Agreement and Plan of Merger dated February 26, 2023.
Ready Capital Corporation completed the issuance and sale of $130.0 million in 9.00% Senior Notes due 2029. The net proceeds, approximately $125.4 million, are intended for asset acquisition, general corporate purposes, or reducing existing borrowings.
🚩 Red Flags
- High interest rate (9.00%) compared to historical debt levels may indicate increased cost of capital or market perception of risk.
- The Notes are unsecured and rank equal to other existing/future unsecured indebtedness.
📋 Key Facts
- Total aggregate principal amount of Notes issued: $130.0 million (includes $15.0 million over-allotment).
- Interest rate: 9.00% per annum, payable quarterly.
- Maturity date: December 15, 2029.
- Issue price: $25 per Note.
- Net proceeds after expenses: approximately $125.4 million.
- The Notes are senior direct unsecured obligations and will be listed on the NYSE under symbol 'RCD'.
- Call protection: The Company cannot redeem the notes prior to December 15, 2026.
Ready Capital Corporation entered into an underwriting agreement to issue $115 million in 9.00% senior unsecured notes due 2029. The net proceeds, expected to be approximately $110.9 million, are intended for asset origination/acquisition and general corporate purposes.
🚩 Red Flags
- High coupon rate (9.00%) relative to historical rates may indicate increased cost of capital or market perception of risk.
📋 Key Facts
- Underwriting agreement dated December 3, 2024.
- Aggregate principal amount of notes: $115 million.
- Interest rate: 9.00% per annum.
- Maturity date: 2029.
- Expected issuance/sale date: December 10, 2024.
- Issue price: $25.00 per note plus accrued interest.
- Estimated net proceeds: ~$110.9 million after expenses.
- Underwriters include Morgan Stanley, Piper Sandler, RBC Capital Markets, UBS Investment Bank, and Wells Fargo Securities.
Ready Capital Corporation has entered into a definitive Agreement and Plan of Merger to acquire United Development Funding IV (UDF IV), a Maryland real estate investment trust. The transaction will be executed through UDF IV's merger with a wholly owned subsidiary of Ready Capital.
🚩 Red Flags
- The merger is subject to shareholder approval from UDF IV shareholders.
- Potential disruption of management attention due to the integration process.
📋 Key Facts
- Merger Agreement dated November 29, 2024.
- Acquisition target: United Development Funding IV (UDF IV).
- Transaction structure: Merger via UDF IV merging into a wholly owned subsidiary of Ready Capital.
- Regulatory requirement: Filing of Form S-4 registration statement and proxy statement for UDF IV shareholders.
Ready Capital Corporation entered into a definitive merger agreement to acquire United Development Funding IV (UDF IV). The transaction involves an exchange of UDF IV common shares for Ready Capital stock and Contingent Value Rights (CVRs) linked to the performance of a specific loan portfolio.
🚩 Red Flags
- Complexity of the CVR structure may lead to future dilution or volatility depending on loan recovery performance.
- The merger is subject to several closing conditions including UDF IV maintaining at least $15M in unrestricted cash plus certain proceeds.
📋 Key Facts
- Merger Agreement entered into on November 29, 2024.
- UDF IV shareholders will receive 0.416 shares of Ready Capital common stock for each UDF IV share (Exchange Ratio).
- The deal includes the issuance of Contingent Value Rights (CVRs) based on cash proceeds from a $13.3 million Portfolio Loan pool.
- UDF IV is required to make a final closing dividend of up to $75,000,000 minus regular dividends and minimum cash requirements.
- The merger is subject to UDF IV shareholder approval and other customary conditions including regulatory/listing approvals.
- Termination fee for UDF IV if it accepts a superior proposal is $4,000,000.
Ready Capital Corporation has issued an earnings release and supplemental financial information for the quarter ended September 30, 2024. This is a routine quarterly reporting filing.
📋 Key Facts
- Report date: November 7, 2024
- Reporting period: Quarter ended September 30, 2024
- The company released earnings results via Exhibit 99.1 and supplemental data via Exhibit 99.2.
- Information is furnished under Item 2.02 but not 'filed' for purposes of Section 18 liability.
Ready Capital Corporation filed an 8-K to announce its quarterly earnings results for the period ended June 30, 2024. The filing includes a press release and supplemental financial information.
📋 Key Facts
- Earnings release issued on August 7, 2024, for the quarter ended June 30, 2024.
- Supplemental financial information provided via the company's Investor Relations website.
- The filing includes exhibits 99.1 (Earnings Release) and 99.2 (Supplemental Financial Information).
Ready Capital Corporation held its annual meeting of stockholders on July 25, 2024. The filing reports the results of shareholder votes regarding director elections, auditor ratification, and executive compensation.
📋 Key Facts
- Annual Meeting held via virtual live internet stream on July 25, 2024.
- All seven director nominees were elected to serve until the 2025 annual meeting.
- Stockholders ratified the appointment of Deloitte & Touche LLP as independent registered public accounting firm for fiscal year 2024 with 126,225,459 votes in favor.
- Shareholders approved executive compensation on an advisory basis (Say-on-Pay) with 74,979,133 votes in favor.
Ready Capital Corporation filed an 8-K to announce its quarterly earnings results for the period ending March 31, 2024. The filing includes the official earnings release and supplemental financial information.
📋 Key Facts
- Report date: May 9, 2024
- Reporting period: Quarter ended March 31, 2024
- Included Exhibit 99.1: Earnings Release dated May 9, 2024
- Included Exhibit 99.2: Supplemental Financial Information for the quarter ended March 31, 2024
Ready Capital Corporation filed an 8-K to announce its financial results for the quarter ended December 31, 2023. The filing includes an earnings release and supplemental financial information.
📋 Key Facts
- Earnings release issued on February 27, 2024, for the quarter ending Dec 31, 2023.
- Supplemental financial information posted to the company's Investor Relations website.
- The filing includes various securities listed: Common Stock (RC), Series C Preferred Stock (RC PRC), and Series E Preferred Stock (RC PRE).
- Includes references to 6.20% Senior Notes due 2026 and 5.75% Senior Notes due 2026.
Ready Capital Corporation filed an 8-K to provide an investor presentation being delivered to management during meetings with investors. This filing is intended to satisfy Regulation FD disclosure requirements.
📋 Key Facts
- The company is providing an investor presentation (Exhibit 99.1) as part of management's scheduled meetings with investors starting the week of January 29, 2024.
- The filing includes a disclaimer that information under Item 7.01 is not 'filed' for purposes of Section 18 liability or incorporation by reference in other filings.