Breaking News: Ready Capital Corporation Sets Record with Successful Senior Notes Offering!

Ready Capital Corporation Announces Pricing of Senior Notes Offering

New York, Dec. 03, 2024

Ready Capital Corporation (NYSE: RC) (“Ready Capital” or the “Company”) has made headlines by successfully pricing an underwritten public offering of $115.0 million aggregate principal amount of 9.00% Senior Notes due 2029, setting a new record for the company. The Notes will be issued in minimum denominations and integral multiples of $25.00. The Company has also granted the underwriters a 30-day over-allotment option to purchase up to an additional $17.25 million aggregate principal amount of the Notes at the public offering price, less the underwriting discount.

The net proceeds from this offering will be used by Ready Capital to originate or acquire target assets consistent with its investment strategy and for general corporate purposes. The Company has enlisted the expertise of Morgan Stanley & Co. LLC, Piper Sandler & Co., RBC Capital Markets, LLC, UBS Investment Bank, and Wells Fargo Securities, LLC as the book-running managers for the offering, showcasing the confidence placed in Ready Capital by these industry leaders.

Ready Capital’s successful Senior Notes offering demonstrates the confidence that investors have in the company’s investment strategy and financial stability. This milestone highlights Ready Capital’s strong position in the market and its ability to capitalize on opportunities for growth and expansion.

How will this affect me?

As an individual investor, the success of Ready Capital’s Senior Notes offering could signal a strong investment opportunity. The company’s ability to raise capital through this offering demonstrates confidence in its long-term growth prospects, potentially leading to increased shareholder value and returns for investors.

How will this affect the world?

Ready Capital’s record-setting Senior Notes offering signifies a positive outlook for the financial markets and the economy as a whole. The company’s ability to raise capital for targeted assets and general corporate purposes indicates a growing confidence in the overall economic landscape and investment opportunities.

Conclusion

Ready Capital Corporation’s successful Senior Notes offering marks a significant achievement for the company and reflects positively on its growth prospects and investment strategy. The strong response from investors and the support of leading financial institutions indicate a bright future for Ready Capital and the broader economic landscape.