Ready Capital Q1 GAAP EPS $0.70, distributable EPS $0.52; completes $542M Mosaic merger

Ready Capital Corp

2022-Q1 EPS reported $0.66

GAAP net income $64.3M ($0.70/share); distributable earnings $48.9M ($0.52/share); dividend coverage 1.3x.
Completed $542M merger with Mosaic Real Estate Credit, expanding construction lending capabilities.
Record SBC originations of $2.2B; total investments $3.1B including $769M residential mortgages.
Raised $107.1M in common stock offering and closed $120M of 6.125% senior notes due 2025.
Net book value $15.22/share; total leverage 4.4x, recourse 1.4x; 79% of SBC portfolio floating rate.

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