Here are the 8-K filings from Ready Capital Corporation 9.00% Senior Notes due 2029 (RCD) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
An 8-K covers material events a company has to report between its quarterly reports, so if you follow RCD and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full RCD filings page.
Ready Capital Corp., through subsidiary ReadyCap Holdings II, LLC, closed a private placement of $225.0 million aggregate principal amount of 10.00% Senior Secured Notes due 2031 on September 28, 2026.
On the same date, indirect subsidiary ReadyCap Holdings, LLC redeemed the entire $350.0 million aggregate principal amount of its 4.50% Senior Secured Notes due 2026. The redemption price was 100% of principal, plus accrued and unpaid interest.
Ready Capital Corporation amended the indenture governing its $100 million aggregate principal amount of 7.375% Senior Notes due 2027 through a supplement with U.S. Bank Trust Company, National Association, as trustee. Holders of a majority in aggregate principal amount of the outstanding notes consented.
The amendment permits a Recourse Debt to Equity Ratio of up to 2.0 to 1.0 and sets minimum Consolidated Net Asset Value at $1.2 billion plus the greater of zero and 75% of Net Equity Capital Activity. Both measures are determined as of the last day of each fiscal quarter, establishing the quarterly tests under the notes’ indenture.
Ready Capital Corporation (RC), through subsidiary ReadyCap Holdings II, LLC, has priced a private placement of $225.0 million of 10.00% Senior Secured Notes due 2031, sold at 99.5% of principal and expected to close on September 28, 2026.
ReadyCap Holdings, LLC issued a notice of redemption for the full $350.0 million of outstanding 4.50% Senior Secured Notes due 2026, to be redeemed at 100% of principal plus accrued interest using net proceeds from the New Notes and available cash. The transaction retires $350.0 million of 2026 corporate debt, reduces corporate secured debt outstanding by $125 million, and funds roughly two-thirds of the repayment with new 2031-maturity capital.
The company states that, over its balance sheet repositioning program begun in the fourth quarter of 2025, it will have generated about $2.3 billion of cash, repaid $1.7 billion of asset-level financing, and retired $549 million of corporate debt. After the redemption, the sole remaining 2026 corporate maturity is $100.0 million due November 2026, which the company expects to repay from cash on hand, and it plans to shift emphasis from liquidity generation to earnings growth.
Ready Capital Corporation reported a GAAP net loss attributable to common shareholders of $103.5 million, or $(0.63) per common share, for the quarter ended June 30, 2026, and a distributable loss attributable to common stockholders of $77.6 million, or $(0.47) per share. Distributable loss before realized losses was $(0.24) per share. The company declared a $0.01 dividend per common share.
Management highlighted ongoing balance sheet repositioning. Year-to-date it generated $1.4 billion of cash from loan sales and portfolio runoff, repaid over $1.0 billion of asset-level financing, and retired $184 million of corporate debt, including its 6.20% Senior Unsecured Notes. A $158.2 million securitization of unguaranteed SBA 7(a) loans, priced at SOFR + 2.4%, provided $24.6 million of net liquidity and $500 million of additional funding capacity. Book value per common share was $6.83 at June 30, 2026, with total assets of $6.26 billion, cash of $124 million, $690 million of unencumbered assets, total leverage of 3.0x and recourse leverage of 1.7x.
Ready Capital Corporation held its annual meeting of stockholders on July 17, 2026 via a virtual format, where stockholders elected all seven director nominees to serve until the 2027 annual meeting.
Stockholders ratified the appointment of Deloitte & Touche LLP as independent registered public accounting firm with 105,104,898 votes for, approved on an advisory basis the compensation of named executive officers with 64,840,514 votes for, and approved and adopted the Amended and Restated 2023 Equity Incentive Plan with 68,412,042 votes for.
Ready Capital Corporation reported a challenging first quarter of 2026 as it aggressively repositioned its balance sheet. The company recorded a GAAP net loss of $200.1 million, or $(1.25) per common share, and a distributable loss of $(1.00) per share, including significant realized losses on asset sales.
Year-to-date, Ready Capital generated $1.4 billion of cash from loan sales and portfolio runoff, using this to repay over $1.1 billion of asset-level financing and retire $184 million of corporate debt. These actions reduced total assets to $6.3 billion from $7.8 billion at year-end and cut total liabilities to $4.9 billion.
Book value fell to $7.43 per common share, down from $8.79, as loan sales and credit provisions pressured equity. The core commercial real estate portfolio showed 60+ day delinquencies of 14.8%, reflecting loan sales and intensified asset management. The company ended the quarter with $200 million in cash, $730 million of unencumbered assets, total leverage of 3.0x and recourse leverage of 1.8x, and declared a quarterly dividend of $0.01 per common share.
Ready Capital Corporation reported a heavy loss for the quarter and year ended December 31, 2025, driven by credit costs and realized losses on investments. For the fourth quarter, net loss from continuing operations was $232.6 million, or $(1.46) per common share, with a distributable loss per common share of $(0.43) and $(0.09) before realized losses.
The company’s loan portfolio totaled $5.9 billion, but it recorded a fourth-quarter provision for loan losses of $149.9 million and realized losses on sale of investments of $65.0 million, contributing to a full-year net loss of $221.1 million. Book value per common share declined to $8.79 as of December 31, 2025, compared with $10.61 a year earlier, while total assets fell from $10.1 billion to $7.8 billion over the same period.
Management highlighted continued execution of a liquidity plan, including selling 34 loans with $855.3 million of unpaid principal balance after year-end and retiring the 5.75% Senior Unsecured Note due February 2026. The company declared a modest common dividend of $0.01 per share for the quarter, reflecting pressure on earnings and capital.
Ready Capital Corporation furnished an update on its latest results. The company announced an earnings release for the quarter ended September 30, 2025 and posted supplemental financial information on its investor relations website. Copies are provided as Exhibit 99.1 (earnings release) and Exhibit 99.2 (supplemental data). The information under Item 2.02 is being furnished and not deemed filed under the Exchange Act.