Ready Capital files belated pro forma financials for May 2023 Broadmark merger

Ready Capital Corp

Merger consideration: $637.2M in stock (62.2M shares at $10.24/share) on May 31, 2023.
Bargain purchase gain of $189.7M recognized on net assets acquired with fair value of $826.9M.
Pro forma net income attributable to Ready Capital for FY2023: $307.6M, or $2.09 basic EPS and $2.06 diluted EPS.
Pro forma statement assumes merger completed Jan 1, 2023; actual closing was May 31, 2023.
Former Broadmark stockholders owned ~36% of combined company.

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