secwatch.observer — SEC 8-K summary
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Issuer:     Ready Capital Corp (RC)
CIK:        0001527590
Form:       8-K
Filed at:   2024-12-02T23:59:59+00:00
Accession:  0001104659-24-124339
Event type: m_and_a
Sentiment:  positive
Materiality: 0.80
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ready Capital to acquire UDF IV for up to $5.89/share in cash, stock, CVRs
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- Total consideration up to $5.89/UDF share: pre-closing cash up to $2.44/sh, stock at closing $3.07/sh, CVRs ~$0.38/sh.
- Ready Capital to issue ~12.8M shares valued at ~$94M; UDF IV holders to own ~7% of combined company.
- Transaction expected to close H1 2025, approved by both boards; accretive to RC earnings and book value in 2025.
- Pro forma equity capital base >$2.2B; combined company to continue under RC name, traded on NYSE.
- UDF IV allowed to distribute up to $75M cash ($2.44/sh) to shareholders prior to closing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1527590/000110465924124339/0001104659-24-124339-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1527590/000110465924124339/tm2429856d3_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-124339

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