Breaking News: Ready Capital Corporation Successfully Closes Public Offering and Exercises Over-Allotment Option for Senior Notes Due 2029!
New York, Dec. 10, 2024 (GLOBE NEWSWIRE) —
Ready Capital Corporation (NYSE: RC) (“Ready Capital” or the “Company”) today announced that it closed an underwritten public offering of $130 million aggregate principal amount of 9.00% Senior Notes due 2029 (the “Notes”), including $15 million aggregate principal amount relating to the partial exercise of the underwriters’ over-allotment option. The Notes were issued in minimum denominations and integral multiples of $25.00. The Company intends to use the net proceeds from this offering to originate or acquire target assets consistent with its investment strategy and for general corporate purposes. Morgan Stanley & Co. LLC, Piper Sandler & Co., RBC Capital Markets, LLC, UBS Investment Bank and Wells Fargo Securities, LLC served as book-running managers for the offering.
Effect on You
This successful closing of the public offering and exercise of the over-allotment option by Ready Capital Corporation can have a direct impact on you as an investor. It shows the company’s ability to raise capital, which could potentially lead to growth and increased value for its shareholders. If you are a current investor in Ready Capital, this news may indicate positive prospects for the company’s future performance and the potential for returns on your investment.
Effect on the World
The successful closing of the public offering and exercise of the over-allotment option by Ready Capital Corporation also has broader implications for the financial markets and the economy. It demonstrates investor confidence in the company and could signal to the market that there is strong demand for these types of offerings. This could have a ripple effect on other companies looking to raise capital through similar means, influencing overall market sentiment and investment activity.
Conclusion
In conclusion, the news of Ready Capital Corporation’s successful closing of the public offering and exercise of the over-allotment option for Senior Notes due 2029 is a significant development for the company, its investors, and the financial markets as a whole. It reflects the company’s strong performance and ability to access capital markets effectively. Moving forward, this news has the potential to impact both individual investors and the broader economy, shaping investment decisions and market trends in the future.
