secwatch.observer — SEC 8-K summary
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Issuer:     Ready Capital Corp (RC)
CIK:        0001527590
Form:       8-K
Filed at:   2022-05-10T23:59:59+00:00
Accession:  0001104659-22-058225
Event type: other_material
Sentiment:  neutral
Materiality: 0.30
Item codes: 3.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1527590/000110465922058225/0001104659-22-058225-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1527590/000110465922058225/tm2214900d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-058225

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