---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-025600"
form_type: "8-K"
ticker: "RC"
cik: "0001527590"
company_name: "Ready Capital Corp"
filed_at: "2023-02-27T23:59:59+00:00"
generated_at: "2026-06-18T23:32:00.441858+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Ready Capital to acquire Broadmark Realty Capital in ~$787M all-stock merger

## Summary
- Each Broadmark share converted into 0.47233 RC shares; offer price $5.90/share, 41% premium to Feb 24 close.
- Pro forma equity capital base of $2.8B; combined market cap ~$2.2B; RC stockholders own ~64%, Broadmark ~36%.
- Transaction expected to close in Q2 2023, subject to stockholder approvals and customary conditions.
- Combined company to be 4th largest commercial mortgage REIT; Waterfall Asset Management to continue as manager.
- Ready Capital to assume Broadmark's outstanding senior unsecured notes.

## SEC filing metadata
- accession: 0001104659-23-025600
- form_type: 8-K
- ticker: RC
- cik: 0001527590
- company_name: Ready Capital Corp
- filed_at: 2023-02-27T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1527590/000110465923025600/0001104659-23-025600-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1527590/000110465923025600/tm237886d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-025600
- JSON: https://secwatch.observer/filing/0001104659-23-025600.json
- Plain text: https://secwatch.observer/filing/0001104659-23-025600.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.