Ready Capital Corp Stock Price, News & Analysis

Ready Capital Corporation (NYSE: RC) has priced an upsized public offering of 7,000,000 shares of common stock, aiming for total gross proceeds of approximately $108.9 million. The underwriters will have a 30-day option to purchase an additional 1,050,000 shares. The net proceeds will be used to originate or acquire target assets aligned with its investment strategy, as well as for general corporate purposes. The offering is set to close on January 14, 2022, pending customary closing conditions.

Ready Capital Corporation (NYSE: RC) announced a public offering of 6,000,000 shares of common stock, with an option for underwriters to purchase an additional 900,000 shares. The proceeds will be used to acquire target assets aligned with the company's investment strategy and for general corporate purposes. The offering is led by Morgan Stanley, Wells Fargo Securities, and others, with a registration statement effective as of January 11, 2022. The company's forward-looking statements highlight potential risks and uncertainties.

Ready Capital Corporation (NYSE: RC) announced the completion of a public offering of $110 million in 5.50% senior unsecured notes due 2028. The funds will be utilized to acquire mortgage loans and related assets, aligning with the company's investment strategy. Piper Sandler & Co. served as the book-running manager for this offering, which priced each note at $1,000. The offering is registered with the SEC, and the company emphasizes the non-offer nature of this press release.

Ready Capital Corporation (NYSE: RC) announced a public offering of $110.00 million in 5.50% senior unsecured notes due in 2028. The offering aims to finance additional mortgage loans and assets in line with the company’s strategy. Book-running manager Piper Sandler will oversee the offering set to close on December 21, 2021. Each note is priced at $1,000 with a minimum denomination of $2,000. The registration statement was declared effective by the SEC.

Ready Capital Corporation (NYSE: RC) has announced a public offering of senior unsecured notes due 2028. The proceeds will be used to acquire mortgage loans and related assets, aligning with the company's investment strategy. The specific terms including maturity and interest rate will be determined during the pricing of the offering, managed by Piper Sandler & Co. A registration statement for the notes has been declared effective by the SEC.

Ready Capital Corporation (NYSE:RC) has declared its quarterly cash dividend of $0.42 per share for the quarter ended December 31, 2021, payable on January 31, 2022. Shareholders of record by December 31, 2021 will receive this dividend. Additionally, the Company announced dividends for its 6.25% Series C and 6.50% Series E Preferred Stocks, with payments of $0.390625 and $0.40625 respectively, also payable on January 14, 2022 and January 31, 2022.

On December 13, 2021, Ready Capital Corporation (NYSE: RC) announced the successful closure of a significant acquisition involving a five-property, 1,070-unit multifamily portfolio in the Dallas-Fort Worth area. The transaction is the largest of several notable Bridge deals by Ready Capital in 2021. A non-recourse, interest-only loan with a 36-month term and flexible prepayment options was secured in November. WindMass Capital will execute a capital improvement plan to enhance the properties. The company anticipates further opportunities in Texas and a robust deal pipeline heading into 2022.

Ready Capital Corporation (NYSE: RC) has announced the appointment of Richard Katzenstein and Alex Ovalle as Managing Directors within its senior leadership team. Katzenstein will focus on enhancing commercial real estate lending through strategic partnerships, while Ovalle will drive sales for the Structured Fixed Rate and CMBS platforms. Their addition comes as the company anticipates expansion following a pending merger with Mosaic, expected to close in Q1 2022. Both executives bring extensive experience in real estate finance, positioning Ready Capital for growth.

Ready Capital Corporation (NYSE: RC) announced the pricing of a $927.2 million commercial mortgage collateralized loan obligation (CRE CLO), with an option for $135.2 million in future funding. The senior certificates received a AAA rating from Moody's and DBRS. This transaction constitutes the company's seventh CRE CLO and represents its largest issuance to date, totaling $3.39 billion in collateral. The portfolio includes 76 floating rate loans secured by 89 properties, primarily in multifamily (91.7%) and industrial (4.4%) sectors across 22 states.