Amster Discloses 11.6M Shares (7.1%) in Ready Capital; Multiple Purchases Reported

Rhea-AI Filing Summary

Amendment No. 1 to Schedule 13D reports that Howard Amster and affiliated entities are the beneficial owners of 11,615,200 shares of Ready Capital Corp common stock, representing 7.1% of the outstanding shares based on a 164,327,272-share denominator. The filing amends an initial Schedule 13D and discloses numerous open-market purchases between July 29, 2025 and August 27, 2025, including large blocks such as 690,000 and 684,000 shares, with purchase prices shown in the filing in the ~$4.18–$4.44 range. The cover pages allocate sole and shared voting and dispositive power across Mr. Amster and multiple trusts, partnerships and entities, and state that, other than the reporting persons, no one else is known to have rights to dividends or sale proceeds from these shares.

Positive

• Material disclosure of a 7.1% beneficial ownership stake by Howard Amster and affiliates provides transparency to investors
• All purchases were open-market and dated, with detailed per-transaction prices and volumes from 07/29/2025 through 08/27/2025
• Filing identifies allocation of sole and shared voting/dispositive power across specific trusts, partnerships and entities, clarifying control relationships
• Reporting persons state no other party is known to have rights to dividends or sale proceeds for the disclosed shares

Negative

• None.

Insights

Financial Analyst

TL;DR: Concentrated stake built via aggressive open-market purchases raises potential for influence and could prompt market attention.

The filing shows Howard Amster and related vehicles accumulating a significant 7.1% ownership position in Ready Capital Corp through multiple open-market purchases from July 29 to August 27, 2025. Notable single-day/instrument purchases include blocks of 690,000 and 684,000 shares. The weighted purchase prices reported are approximately in the $4.18–$4.44 range. From an investor-impact perspective, a disclosed >7% position is material because it may enable increased influence over corporate decisions and board dynamics. The filing does not state any agreement to seek control or other plans; it is strictly an ownership disclosure and thus market reaction will depend on investor interpretation of intent.

Corporate Governance Expert

TL;DR: The ownership is structured across entities and trusts, concentrating voting power while maintaining legal separations.

The Schedule 13D/A allocates both sole and shared voting and dispositive powers among Mr. Amster and affiliated entities, including trusts, partnerships and corporations. This structure centralizes practical control while preserving distinct legal ownership across vehicles. The filing explicitly notes that no other person is known to have rights to dividends or sale proceeds from the shares held by the reporting persons, clarifying economic exposure. The amendment does not disclose any proposed transactions or governance changes; therefore, from a governance-compliance standpoint the filing is a routine update reflecting recent purchases.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 1)

Ready Capital Corp

(Name of Issuer)

COMMON STOCK PAR VALUE $0.0001 PER SHARE

(Title of Class of Securities)

75574U101

(CUSIP Number)

HOWARD AMSTER
290 NORTH OLIVE, SUITE 523
WEST PALM BEACH, FL, 33401
2165951047

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

07/29/2025

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 75574U101

1

Name of reporting person

Amster Howard

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 10,995,346.00
8	Shared Voting Power 619,854.00
9	Sole Dispositive Power 10,995,346.00
10	Shared Dispositive Power 619,854.00

11

Aggregate amount beneficially owned by each reporting person

11,615,200.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

7.1 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

*Mr. Amster is deemed to be the beneficial owner of (i) 3,003,659 shares that are owned directly by Mr. Amster; (ii) 3,608,253 shares that are owned in the aggregate by Pleasant Lake Apartments Corp., Pleasant Lake Apartments Limited Partnership, and Laughlin Holdings, LLC, all joint filers, over which Mr. Amster has sole voting and dispositive power; (iii) 3,104,611 shares that are owned in the aggregate by the trusts jointly filing herewith, over which, as sole trustee, Mr. Amster has sole voting and dispositive power; (iv) the 497,971 shares that are owned by the Howard Amster Foundation over which, Mr. Amster, as President, has sole voting and dispositive power; (v) 457,812 shares that are owned by Amster Limited Partnership, which Mr. Amster, as sole General Partner, has sole voting and dispositive power; (vi) 323,040 shares that are owned by Ramat Securities, Ltd., which Mr. Amster, as authorized representative and majority member, has sole voting and dipositive power; (vii) 11,155 shares that are owned by NewAx Inc., which Mr. Amster, as a member of the Board of Directors and majority shareholder, has shared voting and dispositive power; (viii) 494,113 shares owned by Pleasant Lake Skoien Investments LLC, which Mr. Amster, as President of Pleasant Lake Apartments Corp., the General Partner of Pleasant Lake Apartments LP, the Managing Member of Pleasant Lake Apartments LLC which is the Managing Member of Pleasant Lake Skoien Investments LLC, has shared voting and dispositive power and (ix) 114,586 shares owned by Horizon Group Properties Inc., which Mr. Amster, as the majority owner has shared voting and dispositive power. **Denominator is based on the 164,327,272 shares of common stock outstanding as of August 8, 2025 as reported by the Issuer on Form 10-Q for the period ending June 30, 2025, as filed with the Securities and Exchange Commission on August 8, 2025

SCHEDULE 13D

CUSIP No. 75574U101

1

Name of reporting person

PLEASANT LAKE APARTMENTS LIMITED PARTNERSHIP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

OHIO

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 2,550,466.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 2,550,466.00

11

Aggregate amount beneficially owned by each reporting person

2,550,466.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

1.6 %

14

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person:

* See the footnote marked with a * to cover page for Mr. Amster. ** See the footnote marked with a ** to cover page for Mr. Amster.

SCHEDULE 13D

CUSIP No. 75574U101

1

Name of reporting person

HOWARD AMSTER 2019 CHARITABLE REMAINDER UNITRUST 1 U/A DTD 05/20/2019

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

OHIO

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 2,182,997.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 2,182,997.00

11

Aggregate amount beneficially owned by each reporting person

2,182,997.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

1.3 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

* See the footnote marked with a * to cover page for Mr. Amster. ** See the footnote marked with a ** to cover page for Mr. Amster.

SCHEDULE 13D

CUSIP No. 75574U101

1

Name of reporting person

HOWARD AMSTER 2019 CHARITABLE REMAINDER UNITRUST #3 U/A DTD 05/20/2019

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

OHIO

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 39,208.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 39,208.00

11

Aggregate amount beneficially owned by each reporting person

39,208.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.0 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

* See the footnote marked with a * to cover page for Mr. Amster. ** See the footnote marked with a ** to cover page for Mr. Amster.

SCHEDULE 13D

CUSIP No. 75574U101

1

Name of reporting person

HOWARD AMSTER 2019 CHARITABLE REMAINDER UNITRUST #4 U/A DTD 05/20/2019

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

OHIO

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 103,540.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 103,540.00

11

Aggregate amount beneficially owned by each reporting person

103,540.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.1 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

* See the footnote marked with a * to cover page for Mr. Amster. ** See the footnote marked with a ** to cover page for Mr. Amster.

SCHEDULE 13D

CUSIP No. 75574U101

1

Name of reporting person

AMSTER LIMITED PARTNERSHIP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

OHIO

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 457,812.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 457,812.00

11

Aggregate amount beneficially owned by each reporting person

457,812.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.3 %

14

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person:

* See the footnote marked with a * to cover page for Mr. Amster. ** See the footnote marked with a ** to cover page for Mr. Amster.

SCHEDULE 13D

CUSIP No. 75574U101

1

Name of reporting person

HOWARD AMSTER 2019 CHARITABLE REMAINDER UNITRUST #7 U/A DTD 05/20/2019

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

OHIO

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 694.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 694.00

11

Aggregate amount beneficially owned by each reporting person

694.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.0 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

* See the footnote marked with a * to cover page for Mr. Amster. ** See the footnote marked with a ** to cover page for Mr. Amster.

SCHEDULE 13D

CUSIP No. 75574U101

1

Name of reporting person

LAUGHLIN HOLDINGS LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 1,055,981.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 1,055,981.00

11

Aggregate amount beneficially owned by each reporting person

1,055,981.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.6 %

14

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person:

* See the footnote marked with a * to cover page for Mr. Amster. ** See the footnote marked with a ** to cover page for Mr. Amster.

SCHEDULE 13D

CUSIP No. 75574U101

1

Name of reporting person

RAMAT SECURITIES LTD

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

OHIO

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 323,040.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 323,040.00

11

Aggregate amount beneficially owned by each reporting person

323,040.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.2 %

14

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person:

* See the footnote marked with a * to cover page for Mr. Amster. ** See the footnote marked with a ** to cover page for Mr. Amster.

SCHEDULE 13D

CUSIP No. 75574U101

1

Name of reporting person

HOWARD AMSTER 2021 CHARITABLE REMAINDER UNITRUST #3 U/A DTD 11/23/2021

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

OHIO

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 559,208.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 559,208.00

11

Aggregate amount beneficially owned by each reporting person

559,208.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.3 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

* See the footnote marked with a * to cover page for Mr. Amster. ** See the footnote marked with a ** to cover page for Mr. Amster.

SCHEDULE 13D

CUSIP No. 75574U101

1

Name of reporting person

PLEASANT LAKE APARTMENTS CORP.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

OHIO

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 1,806.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 1,806.00

11

Aggregate amount beneficially owned by each reporting person

1,806.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.0 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

* See the footnote marked with a * to cover page for Mr. Amster. ** See the footnote marked with a ** to cover page for Mr. Amster.

SCHEDULE 13D

CUSIP No. 75574U101

1

Name of reporting person

HOWARD AMSTER 2022 CHARITABLE REMAINDER UNITRUST #1 U/A DTD 03/09/2022

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

OHIO

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 99,968.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 99,968.00

11

Aggregate amount beneficially owned by each reporting person

99,968.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.1 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

* See the footnote marked with a * to cover page for Mr. Amster. ** See the footnote marked with a ** to cover page for Mr. Amster.

SCHEDULE 13D

CUSIP No. 75574U101

1

Name of reporting person

HOWARD AMSTER FOUNDATION

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

OHIO

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 497,971.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 497,971.00

11

Aggregate amount beneficially owned by each reporting person

497,971.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.3 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

* See the footnote marked with a * to cover page for Mr. Amster. ** See the footnote marked with a ** to cover page for Mr. Amster.

SCHEDULE 13D

CUSIP No. 75574U101

1

Name of reporting person

NEWAX INC.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 11,155.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 11,155.00

11

Aggregate amount beneficially owned by each reporting person

11,155.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.0 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

* See the footnote marked with a * to cover page for Mr. Amster. ** See the footnote marked with a ** to cover page for Mr. Amster.

SCHEDULE 13D

CUSIP No. 75574U101

1

Name of reporting person

PLEASANT LAKE SKOIEN INVESTMENTS LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 494,113.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 494,113.00

11

Aggregate amount beneficially owned by each reporting person

494,113.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.3 %

14

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person:

* See the footnote marked with a * to cover page for Mr. Amster. ** See the footnote marked with a ** to cover page for Mr. Amster.

SCHEDULE 13D

CUSIP No. 75574U101

1

Name of reporting person

HOWARD AMSTER 2019 CHARITABLE REMAINDER UNITRUST #5 U/A DTD 05/20/2019

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

OHIO

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 40,483.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 40,483.00

11

Aggregate amount beneficially owned by each reporting person

40,483.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.0 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

* See the footnote marked with a * to cover page for Mr. Amster. ** See the footnote marked with a ** to cover page for Mr. Amster.

SCHEDULE 13D

CUSIP No. 75574U101

1

Name of reporting person

HOWARD AMSTER 2021 CHARITABLE REMAINDER UNITRUST #1 U/A DTD 08/10/2021

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

OHIO

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 24,952.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 24,952.00

11

Aggregate amount beneficially owned by each reporting person

24,952.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.0 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

* See the footnote marked with a * to cover page for Mr. Amster. ** See the footnote marked with a ** to cover page for Mr. Amster.

SCHEDULE 13D

CUSIP No. 75574U101

1

Name of reporting person

HOWARD AMSTER 2021 CHARITABLE REMAINDER UNITRUST #2 U/A DTD 08/10/2021

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

OHIO

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 2,216.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 2,216.00

11

Aggregate amount beneficially owned by each reporting person

2,216.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.0 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

* See the footnote marked with a * to cover page for Mr. Amster. ** See the footnote marked with a ** to cover page for Mr. Amster.

SCHEDULE 13D

CUSIP No. 75574U101

1

Name of reporting person

HOWARD AMSTER & TAMRA GOULD CHARITABLE REMAINDER UNITRUST U/A DTD 03/18/1993

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

OHIO

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 345.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 345.00

11

Aggregate amount beneficially owned by each reporting person

345.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.0 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

* See the footnote marked with a * to cover page for Mr. Amster. ** See the footnote marked with a ** to cover page for Mr. Amster.

SCHEDULE 13D

CUSIP No. 75574U101

1

Name of reporting person

HOWARD AMSTER CHARITABLE REMAINDER UNITRUST U/A DTD 04/22/1998

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

OHIO

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 5,142.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 5,142.00

11

Aggregate amount beneficially owned by each reporting person

5,142.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.0 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

* See the footnote marked with a * to cover page for Mr. Amster. ** See the footnote marked with a ** to cover page for Mr. Amster.

SCHEDULE 13D

CUSIP No. 75574U101

1

Name of reporting person

HOWARD AMSTER CHARITABLE REMAINDER UNITRUST U/A DTD 01/11/2005

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

OHIO

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 2,854.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 2,854.00

11

Aggregate amount beneficially owned by each reporting person

2,854.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.0 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

* See the footnote marked with a * to cover page for Mr. Amster. ** See the footnote marked with a ** to cover page for Mr. Amster.

SCHEDULE 13D

CUSIP No. 75574U101

1

Name of reporting person

HORIZON GROUP PROPERTIES INC.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 114,586.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 114,586.00

11

Aggregate amount beneficially owned by each reporting person

114,586.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.1 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP No. 75574U101

1

Name of reporting person

HOWARD AMSTER 2019 CHARITABLE REMAINDER UNITRUST #2 U/A DTD 05/20/2019

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

OHIO

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 43,004.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 43,004.00

11

Aggregate amount beneficially owned by each reporting person

43,004.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.0 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: COMMON STOCK PAR VALUE $0.0001 PER SHARE
(b)	Name of Issuer: Ready Capital Corp
(c)	Address of Issuer's Principal Executive Offices: 1251 AVENUE OF THE AMERICAS, 1251 AVENUE OF THE AMERICAS, NEW YORK, NEW YORK , 10020.
Item 1 Comment: This Amendment No. 1 to Schedule 13D (Amendment No. 1) amends the Reporting Persons initial Schedule 13D filed August 5,2025 (the Initial 13D) with respect to the Common Shares (the Common Stock) of Ready Capital Corporation (the Issuer). Except as specifically amended by this Amendment No. 1 and noted in the paragraphs below, the Initial 13D is unchanged. Unless otherwise indicated, each capitalized item used but not specifically defined herein shall have the meaning ascribed to such item in the Initial 13D.
Item 5.	Interest in Securities of the Issuer
(a)	Item 5 of the Initial 13D is hereby amended and restated in its entirety to read as follows: (a) See Items 11 and 13 of the cover pages of this Schedule 13D, as amended, which Items are incorporated herein by reference, for the aggregate number of shares and percentage of the shares of Common Stock identified pursuant to Item 1 beneficially owned by each of the Reporting Persons.
(b)	See items 7, 8, 9, and 10 of the cover pages to this Schedule 13D, as amended, which Items are incorporated herein by reference, for the aggregate number and percentage of the shares of the Common Stock beneficially owned by each of the Reporting Persons as to which there is sole or shared power to vote or direct the vote and sole or shared power to dispose or to direct the disposition of such shares of the Common Stock.
(c)	The following table sets forth all transactions with respect to the shares of Common Stock effected during the past sixty (60) days by any of the Reporting Persons, inclusive of any transactions effected through 5:00 p.m., New York City time, on August 28, 2025. All transactions were purchases and were conducted on the open market. If the shares were purchased in multiple transactions on a single trading day, the price per share reported is the weighted average price. Date Shares Purchased Per Share Total Price Purchaser 07/29/25 301,000 $4.44 $1,336,817 Howard Amster* 07/29/25 4,000 $4.44 $17,786 Pleasant Lake Apartments LP* 07/29/25 36,900 $4.44 $163,888 Laughlin Holdings LLC* 07/29/25 162,000 $4.44 $692,839 Howard Amster* 07/29/25 8,700 $4.44 $38,648 Howard Amster 2019 CRUT 1* 07/29/25 1,200 $4.44 $4,358 Howard Amster 2019 CRUT 3* 07/29/25 5,100 $4.44 $22,669 Howard Amster 2019 CRUT 4* 07/29/25 1,500 $4.44 $6,689 Howard Amster 2019 CRUT 2* 07/29/25 1,100 $4.44 $4,914 Howard Amster 2019 CRUT 5* 07/29/25 11,200 $4.44 $49,748 Howard Amster 2021 CRUT 3* 07/29/25 3,300 $4.44 $14,679 Howard Amster 2022 CRUT 1* 08/06/25 690,000 $4.20 $2,900,493 Howard Amster** 08/06/25 634,300 $4.20 $2,663,650 Howard Amster 2019 CRUT 1** 08/07/25 370,000 $4.21 $1,559,039 Howard Amster 2019 CRUT 1*** 08/27/25 684,000 $4.18 $2,860,084 Howard Amster 2019 CRUT 1**** 08/27/25 260,000 $4.25 $1,106,073 Howard Amster 2021 CRUT 3**** *For purchases on 07/29/25, the High Price was $4.48 and the Low Price was $4.36 ** For purchases on 08/06/25, the High Price was $4.27 and the Low Price was $4.14 *** For purchases on 08/07/25, the High Price was $4.24 and the Low Price was $4.19 **** For purchases on 08/27/25, the High Price was $4.28 and the Low Price was $4.08
(d)	) Other than the Reporting Persons, no other person is known by the Reporting Persons to have the right to receive or direct the receipt of dividends from, or the proceeds from the sale of, the shares of the Common Stock of the Issuer beneficially owned by the Reporting Persons.
(e)	Not Applicable

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Amster Howard

Signature:	HOWARD AMSTER
Name/Title:	HOWARD AMSTER
Date:	08/28/2025

PLEASANT LAKE APARTMENTS LIMITED PARTNERSHIP

Signature:	HOWARD AMSTER
Name/Title:	PRESIDENT PLEASANT LAKE APTS CORP ITS GENERAL PARTNER
Date:	08/28/2025

HOWARD AMSTER 2019 CHARITABLE REMAINDER UNITRUST 1 U/A DTD 05/20/2019

Signature:	HOWARD AMSTER
Name/Title:	TRUSTEE
Date:	08/28/2025

HOWARD AMSTER 2019 CHARITABLE REMAINDER UNITRUST #3 U/A DTD 05/20/2019

Signature:	HOWARD AMSTER
Name/Title:	TRUSTEE
Date:	08/28/2025

HOWARD AMSTER 2019 CHARITABLE REMAINDER UNITRUST #4 U/A DTD 05/20/2019

Signature:	HOWARD AMSTER
Name/Title:	TRUSTEE
Date:	08/28/2025

AMSTER LIMITED PARTNERSHIP

Signature:	HOWARD AMSTER
Name/Title:	GENERAL PARTNER
Date:	08/28/2025

HOWARD AMSTER 2019 CHARITABLE REMAINDER UNITRUST #7 U/A DTD 05/20/2019

Signature:	HOWARD AMSTER
Name/Title:	TRUSTEE
Date:	08/28/2025

LAUGHLIN HOLDINGS LLC

Signature:	HOWARD AMSTER
Name/Title:	PRESIDENT PLEASANT LAKE APTS CORP GENERAL PARTNER PLEASANT LAKE APTS LP MANAGER OF LAUGHLIN HOLDINGS LLC
Date:	08/28/2025

RAMAT SECURITIES LTD

Signature:	HOWARD AMSTER
Name/Title:	AUTHORIZED REPRESENTATIVE
Date:	08/21/2025

HOWARD AMSTER 2021 CHARITABLE REMAINDER UNITRUST #3 U/A DTD 11/23/2021

Signature:	HOWARD AMSTER
Name/Title:	TRUSTEE
Date:	08/28/2025

PLEASANT LAKE APARTMENTS CORP.

Signature:	HOWARD AMSTER
Name/Title:	PRESIDENT
Date:	08/28/2025

HOWARD AMSTER 2022 CHARITABLE REMAINDER UNITRUST #1 U/A DTD 03/09/2022

Signature:	HOWARD AMSTER
Name/Title:	TRUSTEE
Date:	08/28/2025

HOWARD AMSTER FOUNDATION

Signature:	HOWARD AMSTER
Name/Title:	PRESIDENT
Date:	08/28/2025

NEWAX INC.

Signature:	HOWARD AMSTER
Name/Title:	DIRECTOR
Date:	08/28/2025

PLEASANT LAKE SKOIEN INVESTMENTS LLC

Signature:	HOWARD AMSTER
Name/Title:	PRESIDENT PLEASANT LAKE APTS CORP GENERAL PARTNER OF PLEASANT LAKE APTS LP MANAGING MEMBER OF PLEASANT LAKE SKOIEN INVESTMENTS LLC
Date:	08/28/2025

HOWARD AMSTER 2019 CHARITABLE REMAINDER UNITRUST #5 U/A DTD 05/20/2019

Signature:	HOWARD AMSTER
Name/Title:	TRUSTEE
Date:	08/28/2025

HOWARD AMSTER 2021 CHARITABLE REMAINDER UNITRUST #1 U/A DTD 08/10/2021

Signature:	HOWARD AMSTER
Name/Title:	TRUSTEE
Date:	08/28/2025

HOWARD AMSTER 2021 CHARITABLE REMAINDER UNITRUST #2 U/A DTD 08/10/2021

Signature:	HOWARD AMSTER
Name/Title:	TRUSTEE
Date:	08/28/2025

HOWARD AMSTER & TAMRA GOULD CHARITABLE REMAINDER UNITRUST U/A DTD 03/18/1993

Signature:	HOWARD AMSTER
Name/Title:	TRUSTEE
Date:	08/28/2025

HOWARD AMSTER CHARITABLE REMAINDER UNITRUST U/A DTD 04/22/1998

Signature:	HOWARD AMSTER
Name/Title:	TRUSTEE
Date:	08/28/2025

HOWARD AMSTER CHARITABLE REMAINDER UNITRUST U/A DTD 01/11/2005

Signature:	HOWARD AMSTER
Name/Title:	TRUSTEE
Date:	08/28/2025

HORIZON GROUP PROPERTIES INC.

Signature:	HOWARD AMSTER
Name/Title:	DIRECTOR
Date:	08/28/2025

HOWARD AMSTER 2019 CHARITABLE REMAINDER UNITRUST #2 U/A DTD 05/20/2019

Signature:	HOWARD AMSTER
Name/Title:	TRUSTEE
Date:	08/28/2025

FAQ

How many Ready Capital (RC) shares does Howard Amster beneficially own?

The filing reports Howard Amster and affiliated entities beneficially own 11,615,200 shares, representing 7.1% of RC's outstanding common stock.

What timeframe and prices cover the recent RC purchases disclosed?

Purchases were effected between July 29, 2025 and August 27, 2025, with reported per-share prices in the filing approximately in the $4.18–$4.44 range.

Were the RC shares purchased on the open market or via private transactions?

The Schedule 13D/A states that all transactions were purchases conducted on the open market.

Does anyone other than the reporting persons have rights to dividends or sale proceeds for these RC shares?

The filing states that other than the reporting persons, no other person is known to have such rights.

Which affiliated entities hold portions of the RC stake?

The filing lists multiple holders including Pleasant Lake Apartments Corp., Pleasant Lake Apartments LP, Laughlin Holdings LLC, various Howard Amster charitable remainder unitrusts, Amster Limited Partnership, Ramat Securities Ltd., NewAx Inc., Pleasant Lake Skoien Investments LLC and Horizon Group Properties Inc.