Slideshow Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Sat, April 1, 4:16 PM

Slide #64. Ready Capital Corporation Preferred Stock Offering

Company: Ready Capital Corporation (NYSE:RC)
Date announced: 6/3/2021
Shares Offered: 4,000,000
Date of Pricing: 6/3/2021
Price Per Share: $25.00
Preferred Stock Offering Details: Ready Capital Corporation (NYSE: RC) ("Ready Capital" or the "Company") today announced that it priced an underwritten public offering of 4,000,000 shares of its 6.50% Series E Cumulative Redeemable Preferred Stock (the "Preferred Stock") at a public offering price of $25.00 per share. The Company also granted a 30-day over-allotment option to purchase up to an additional 600,000 shares of the Preferred Stock at the public offering price, less underwriting discounts and commissions. The Preferred Stock will have a $25.00 per share liquidation preference. The Company will receive gross proceeds of $100,000,000 (or $115,000,000 if the underwriters exercise their over-allotment option in full) from the sale of the Preferred Stock before deducting the underwriting discounts and other estimated offering expenses. The Company intends to contribute the net proceeds from this offering to its operating partnership, Sutherland Partners, L.P., which in turn will use the net proceeds to redeem, in whole or in part, its 8.625% Series B Cumlative Preferred Stock and its 7.625% Series D Cumulative Redeemable Preferred Stock, and may use the remainder of the net proceeds, if any, for general business purposes, which may include the repayment of borrowings outstanding under our loan repurchase agreements or credit facilities. The Company intends to apply to list the Preferred Stock on the New York Stock Exchange under the symbol "RC PRE" and, if the application is approved, trading is expected to commence within 30 days of the closing of the offering.

Ready Capital is a real estate finance company that originates, acquires, finances, and services small to medium balance commercial (SBC) loans, Small Business Administration loans, residential mortgage loans, construction loans, and mortgage-backed securities collateralized by SBC loans, or other real estate-related investments. Co.'s segments are: SBC Lending and Acquisitions, which originates SBC loans across the life-cycle of an SBC property including construction, bridge, stabilized and agency loan origination channels; Small Business Lending, which acquires, originates and services owner-occupied loans; and Residential Mortgage Banking, which originates residential mortgage loans.
Open the RC Page at Preferred Stock Channel »

Ready Capital Corp
Number of ETFs Holding RC: 
43 (see which ones)
Total Market Value Held by ETFs: 
Total Market Capitalization: 
% of Market Cap. Held by ETFs: 

Open the RC Page at Preferred Stock Channel (in a new window) »

Quotes delayed 20 minutes

Email EnvelopeFree RC Email Alerts:
Get Dividend Alerts
Get SEC Filing Alerts

Buy (3.00 out of 4)
31st percentile
(ranked lower than approx. 69% of all stocks covered)
Based on data provided by Zacks Investment Research via
Top Ten Highest Yielding Preferred Stocks
Feel-Good Income: Socially Responsible Preferreds
Dividend Channel's 25 S.A.F.E. Dividend Stocks
Increasing Payments For Decades

Safer than S.A.F.E: Preferreds of Dividend Channel's
S.A.F.E. Dividend Stocks

Recent Preferred Stock Offerings
Preferred Stocks of Dow Components
Preferred Stocks of S&P 500 Components
Preferred Stocks By Industry
Preferred Stocks Where Insiders Are Buying The Common
High Yield Preferred Stocks
Preferreds Trading At Premiums To Liquidation Preference
Preferreds Trading At Discounts To Liquidation Preference
The Top 10 DividendRank'ed U.S. Stocks
The Top 10 DividendRank'ed Canadian Stocks
Top 25 Broker Analyst Picks of the S&P 500
Stock market game

Preferred Stock Offerings - Slide 64 of 609 |

Copyright © 2010 - 2023, All Rights Reserved Nothing in Preferred Stock Channel is intended to be investment advice, nor does it represent the opinion of, counsel from, or recommendations by BNK Invest Inc. or any of its affiliates, subsidiaries or partners. None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. All viewers agree that under no circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held liable for any loss or damage caused by your reliance on information obtained. By visiting, using or viewing this site, you agree to the following Full Disclaimer & Terms of Use and Privacy Policy. Video widget and videos powered by Market News Video. Quote data delayed at least 20 minutes; data powered by Ticker Technologies, and Mergent. Contact Preferred Stock Channel; Meet Our Editorial Staff.