Ready Capital Corp reported the quarter ended March 31, 2026 results: EPS $(1.25).
“e material book value pressure of the recent quarters will begin to subside, leaving a lower-leverage platform positioned to restart growth through our core CRE debt investing and SBA 7(a) lending businesses.” Financial Metrics • GAAP loss per common share of $(1.25) • Distributable loss per common share of $(1.00) • Distributable loss per common share before realized losses of $(0.33) Balance Sheet Repositioning • Generated $1.4 billion in cash year-to-date from loan sales and portfolio runoff, paying down over $1.1 billion in asset-level financing and retiring $184 million of corporate debt • Sold 48 CRE loans totaling $1.0 billion in unpaid principal balance across four transactions (66% performing, 34% non- and sub-performing) for net proceeds after asset-level financing paydowns of $177 million • Retired the 5.75% Senior Unsecured Notes in February 2026 and the 6.20% Senior Unsecure”
Debt Financings
Ready Capital Corp incurred senior notes of $220.0 million at 9.375% maturing 2028.
“Ready Capital Corporation (NYSE: RC) (“Ready Capital” or the “Company”) today announced that on February 21, 2025, ReadyCap Holdings, LLC (“ReadyCap”), an indirect subsidiary of the Company closed a private placement of $220.0 million in aggregate principal amount of its 9.375% Senior Secured Notes due 2028 (the “Notes”).”
Earnings Releases
Ready Capital Corp reported first quarter 2024 results: EPS -$(0.45) GAAP loss per share from continuing operations; distributable earnings per share $0.29.
“READY CAPITAL CORPORATION REPORTS FIRST QUARTER 2024 RESULTS - GAAP LOSS PER COMMON SHARE FROM CONTINUING OPERATIONS OF $(0.45) - - DISTRIBUTABLE EARNINGS PER COMMON SHARE OF $0.29 - - DISTRIBUTABLE RETURN ON AVERAGE STOCKHOLDERS’ EQUITY OF 8.6%”
Earnings Releases
Ready Capital Corp reported financial results for the quarter ended December 31, 2023.
“On February 27, 2024, Ready Capital Corporation (the “Company”) issued an earnings release announcing the financial results for the quarter ended December 31, 2023.”
Earnings Releases
Ready Capital Corp reported financial results for quarter ended September 30, 2023.
“On November 7, 2023, Ready Capital Corporation (the “Company”) issued an earnings release announcing the financial results for the quarter ended September 30, 2023.”
Shareholder Votes
Ready Capital Corp shareholders approved Approval and adoption of the Company's 2023 Equity Incentive Plan at the 2023-08-22 meeting.
“The stockholders approved and adopted the Company’s 2023 Equity Incentive Plan.”
Shareholder Votes
Ready Capital Corp shareholders approved Advisory approval of named executive officer compensation at the 2023-08-22 meeting.
“The stockholders approved, on an advisory basis, the compensation of the Company’s named executive officers, as described in the Proxy Statement.”
Shareholder Votes
Ready Capital Corp shareholders approved Ratification of appointment of Deloitte & Touche LLP as independent registered public accounting firm for fiscal year 2023 at the 2023-08-22 meeting.
“The stockholders ratified the appointment of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for the 2023 fiscal year.”
Shareholder Votes
Ready Capital Corp shareholders approved Election of twelve director nominees to serve until the 2024 annual meeting at the 2023-08-22 meeting.
“The stockholders elected all twelve director nominees to serve until the 2024 annual meeting of stockholders and until their respective successors are duly elected and qualify.”
Earnings Releases
Ready Capital Corp reported financial results for quarter ended June 30, 2023.
“On August 7, 2023, Ready Capital Corporation (the “Company”) issued an earnings release announcing the financial results for the quarter ended June 30, 2023.”
M&A Transactions
Ready Capital Corp underwent a change of control involving Broadmark Realty Capital Inc. (closed 2023-05-31).
“Ready Capital, Merger Sub, and Broadmark completed the Merger pursuant to the terms of the Merger Agreement.”
Material Agreements
Ready Capital Corp entered into Assignment and Assumption Agreement with Broadmark valued at $100.0 million aggregate principal amount of 5.00% Senior Notes due 2026 (effective 2023-05-31).
“On May 31, 2023, Merger entered into an assignment and assumption agreement (the “Assignment and Assumption Agreement”) with Broadmark, pursuant to which Broadmark assigned to Merger Sub the Note Purchase Agreement (the “Note Purchase Agreement”) with certain institutional investors relating to the private placement of $100.0 million aggregate principal amount of 5.00% Senior Notes due 2026 (the “Notes”).”
Pinkie D. Mayfield was appointed as director at Ready Capital Corp.
“the board of directors of Ready Capital (the “Board”) increased the size of the Board by three member and appointed Daniel J. Hirsch, Kevin M. Luebbers, and Pinkie D. Mayfield to the Board”
Kevin M. Luebbers was appointed as director at Ready Capital Corp.
“the board of directors of Ready Capital (the “Board”) increased the size of the Board by three member and appointed Daniel J. Hirsch, Kevin M. Luebbers, and Pinkie D. Mayfield to the Board”
Daniel J. Hirsch was appointed as director at Ready Capital Corp.
“the board of directors of Ready Capital (the “Board”) increased the size of the Board by three member and appointed Daniel J. Hirsch, Kevin M. Luebbers, and Pinkie D. Mayfield to the Board”
Shareholder Votes
Ready Capital Corp shareholders approved Proposal to approve the adjournment of the Ready Capital Special Meeting, if necessary or appropriate, for the purpose of soliciting additional votes for the approval of the Ready Capital Common Stock Issuance Proposal at the 2023-05-30 meeting.
“Proposal 2. Proposal to approve the adjournment of the Ready Capital Special Meeting, if necessary or appropriate, for the purpose of soliciting additional votes for the approval of the Ready Capital Common Stock Issuance Proposal. The proposal to approve the adjournment of the Ready Capital Special Meeting, if necessary or appropriate for the purpose of soliciting additional proxies if there were not sufficient votes for the approval of the Ready Capital Common Stock Issuance Proposal, was approved as follows: For Against Abstain 56,281,548 4,164,889 731,716”
Shareholder Votes
Ready Capital Corp shareholders approved Proposal to approve the issuance of shares of Ready Capital Common Stock in the merger as contemplated by the Agreement and Plan of Merger at the 2023-05-30 meeting.
“Proposal 1. Proposal to approve the issuance of shares of Ready Capital Common Stock in the merger as contemplated by the Agreement and Plan of Merger, dated as of February 26, 2023 (the “Merger Agreement”), by and among Ready Capital, RCC Merger Sub, LLC, a Delaware limited liability company, and Broadmark Realty Capital Inc. (“Broadmark”) (the “Ready Capital Common Stock Issuance Proposal”). The Ready Capital Common Stock Issuance Proposal was approved as follows: For Against Abstain Broker Non-Votes 57,784,253 1,974,703 589,241 829,956”
Earnings Releases
Ready Capital Corp reported financial results for the quarter ended March 31, 2023.
“On May 8, 2023, Ready Capital Corporation (the “Company”) issued an earnings release announcing the financial results for the quarter ended March 31, 2023.”
Material Agreements
Ready Capital Corp entered into Agreement and Plan of Merger with Broadmark Realty Capital Inc. (effective 2023-02-26).
“On February 26, 2023, Ready Capital Corporation, a Maryland corporation (“Ready Capital”), Broadmark Realty Capital Inc., a Maryland corporation (“Broadmark”), and RCC Merger Sub, LLC, a Delaware limited liability company and a wholly owned subsidiary of Ready Capital (“Merger Sub”), entered into an Agreement and Plan of Merger (the “Merger Agreement”)”
Earnings Releases
Ready Capital Corp reported the quarter ended December 31, 2022 results: EPS GAAP EARNINGS PER COMMON SHARE OF $0.08.
“READY CAPITAL CORPORATION REPORTS FOURTH QUARTER 2022 RESULTS - GAAP EARNINGS PER COMMON SHARE OF $0.08 - - DISTRIBUTABLE EARNINGS PER COMMON SHARE OF $0.42 -”
Meredith Marshall was appointed as member of the Board at Ready Capital Corp.
“On November 29, 2022, the Board of Directors (the “Board”) of Ready Capital Corporation (the “Company”) appointed Mr. Meredith Marshall to serve as a member of the Board, effective December 1, 2022.”
Thomas E. Capasse was appointed as Chief Investment Officer at Ready Capital Corp.
“On November 16, 2022, the board of directors (the “Board”) of the Company appointed Thomas E. Capasse to serve as the Chief Investment Officer of the Company.”
Thomas Buttacavoli resigned as Chief Investment Officer and Portfolio Manager at Ready Capital Corp.
“On November 16, 2022, Thomas Buttacavoli tendered his resignation as Chief Investment Officer and Portfolio Manager of Ready Capital Corporation (the “Company”).”
Earnings Releases
Ready Capital Corp reported the quarter ended September 30, 2022 results: net income $66.3 million, EPS $0.53 per common share.
“Ready Capital Corporation (“Ready Capital” or the “Company”) (NYSE: RC), a multi-strategy real estate finance company that originates, acquires, finances, and services small-to-medium balance commercial loans, today reported financial results for the quarter ended September 30, 2022.”
Julius W. Erving resigned as director at Ready Capital Corp.
“On September 27, 2022, Julius W. Erving, a director of Ready Capital Corporation (the “Company”), notified the Board of Directors of the Company that, effective immediately, he is resigning as a director of the Company.”
Julius W. Erving was appointed as Director at Ready Capital Corp.
“the board of directors of Ready Capital (the “Board”) increased the size of the Board by one member and appointed Julius W. Erving to the Board to fill the vacancy on the Board created by such increase”
Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.