---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-124335"
form_type: "8-K"
ticker: "RC"
cik: "0001527590"
company_name: "Ready Capital Corp"
filed_at: "2024-12-02T23:59:59+00:00"
generated_at: "2026-05-29T11:19:28.010795+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Ready Capital to acquire United Development Funding IV for 0.416 shares plus CVRs

## Summary
- Each UDF IV common share exchanged for 0.416 Ready Capital common shares plus contingent value rights linked to proceeds from five portfolio loans.
- UDF IV to pay a closing dividend of up to $75M; combined entity must have at least $15M unrestricted cash at close.
- Deal requires UDF IV shareholder approval; termination fee of $4M if UDF IV accepts superior proposal.
- Portfolio loans principal initially ~$13.3M; CVR holders get 60% of net proceeds after Parent recovers that amount.
- Merger expected to close before April 15, 2025, subject to conditions including tax opinions and SEC registration.

## SEC filing metadata
- accession: 0001104659-24-124335
- form_type: 8-K
- ticker: RC
- cik: 0001527590
- company_name: Ready Capital Corp
- filed_at: 2024-12-02T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1527590/000110465924124335/0001104659-24-124335-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1527590/000110465924124335/tm2429856d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-124335
- JSON: https://secwatch.observer/filing/0001104659-24-124335.json
- Plain text: https://secwatch.observer/filing/0001104659-24-124335.txt

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