secwatch.observer — SEC 8-K summary
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Issuer:     Ready Capital Corp (RC)
CIK:        0001527590
Form:       8-K
Filed at:   2023-05-08T23:59:59+00:00
Accession:  0001558370-23-008528
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ready Capital Q1 GAAP EPS $0.30; announces merger with Broadmark
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- GAAP EPS $0.30 per common share; distributable earnings $0.31; distributable ROE 8.5%.
- Total investments $829M: $411M SBC originations, $326M residential mortgage loans, $92M SBA 7(a) loans.
- Declared cash dividend $0.40/share; net book value $15.07 per share as of March 31.
- Announced definitive merger with Broadmark Realty Capital; expected to create 4th largest commercial mortgage REIT (~$2.8B cap).
- Completed securitization of $586M floating-rate SBC loans; sold $484M senior bonds at SOFR + 2.9%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1527590/000155837023008528/0001558370-23-008528-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1527590/000155837023008528/rc-20230508x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-008528

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