secwatch.observer — SEC 8-K summary
======================================

Issuer:     Ready Capital Corp (RC)
CIK:        0001527590
Form:       8-K
Filed at:   2022-03-22T23:59:59+00:00
Accession:  0001104659-22-036301
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 2.01, 3.03, 5.02, 5.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ready Capital completes Mosaic merger; issues ~30.3M Class B shares, CERs
-------------------------------------------------------------------------

- Merger with Mosaic entities closed March 16, 2022; combined company retains name and RC ticker.
- Issued approx. 30,256,860 shares of Class B common stock and equal number of CERs to former Mosaic holders.
- Former Mosaic interest holders now own approximately 26% of Ready Capital's common equity.
- Julius W. Erving appointed to the board as Mosaic's designee, filling a newly created seat.
- CERs give contingent right to additional shares based on acquired portfolio performance over three years.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1527590/000110465922036301/0001104659-22-036301-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1527590/000110465922036301/tm229844d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-036301

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer