---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-026362"
form_type: "8-K"
ticker: "RC"
cik: "0001527590"
company_name: "Ready Capital Corp"
filed_at: "2023-02-28T23:59:59+00:00"
generated_at: "2026-06-18T21:58:37.911210+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Ready Capital to acquire Broadmark Realty Capital in stock-for-stock merger

## Summary
- Broadmark shareholders receive 0.47233 shares of RC common per share, cash for fractional shares.
- Termination fees: Broadmark pays $15.76M; Ready Capital pays $23.639M under specified conditions.
- Closing expected by Aug 26, 2023, subject to stockholder approvals, regulatory, and other conditions.
- Ready Capital board to increase by 3 seats; Broadmark will designate those directors.
- Broadmark to merge into wholly owned Merger Sub; both are REITs.

## SEC filing metadata
- accession: 0001104659-23-026362
- form_type: 8-K
- ticker: RC
- cik: 0001527590
- company_name: Ready Capital Corp
- filed_at: 2023-02-28T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1527590/000110465923026362/0001104659-23-026362-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1527590/000110465923026362/tm238014d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-026362
- JSON: https://secwatch.observer/filing/0001104659-23-026362.json
- Plain text: https://secwatch.observer/filing/0001104659-23-026362.txt

## Key facts
- Material Agreements
  Ready Capital Corp entered into Agreement and Plan of Merger with Broadmark Realty Capital Inc. (effective 2023-02-26).
  - Action: entry
  - Agreement: merger
  - Counterparty: Broadmark Realty Capital Inc.
  - Effective: 2023-02-26
  source text: On February 26, 2023, Ready Capital Corporation, a Maryland corporation (“Ready Capital”), Broadmark Realty Capital Inc., a Maryland corporation (“Broadmark”), and RCC Merger Sub, LLC, a Delaware limited liability company and a wholly owned subsidiary of Ready Capital (“Merger Sub”), entered into an Agreement and Plan of Merger (the “Merger Agreement”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1527590/000110465923026362/0001104659-23-026362-index.htm

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