secwatch.observer — SEC 8-K summary
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Issuer:     Ready Capital Corp (RC)
CIK:        0001527590
Form:       8-K
Filed at:   2023-08-07T23:59:59+00:00
Accession:  0001558370-23-013611
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ready Capital Q2 GAAP EPS $1.87; completes $867M Broadmark merger
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- GAAP EPS $1.87; distributable EPS $0.36; distributable ROE 9.3% for Q2 2023.
- Completed $867M acquisition of Broadmark Realty Capital, becoming 4th largest commercial mortgage REIT.
- Total investments $1.1B: $512M SBC originations, $424M residential mortgage loans, $121M SBA 7(a).
- Closed $649M securitization of floating rate SBC loans; sold $509M senior bonds at SOFR+2.94%.
- Initiated $100M stock buyback; repurchased 1.7M shares at avg $10.82; declared $0.40/share dividend.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1527590/000155837023013611/0001558370-23-013611-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1527590/000155837023013611/rc-20230807x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-013611

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