Ready Capital accelerates conversion of all Class B common shares into common stock effective May 11, 2022

Ready Capital Corp

Board accelerated automatic conversion of all outstanding Class B-1, B-2, B-3, B-4 shares (one-for-one) into common stock as of 5:00 p.m. ET on May 11, 2022.
Following conversion, all Class B shares reclassified as common; authorized shares now 500M common and 50M preferred.
Conversion stems from MREC merger closing Mar 16, 2022; eliminates separate class B structure.

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