Ready Capital Corp | 8.625% Series A Cumulative Preferred Stock (RC.PRB)
Prospectus excerpt: Dividends on the Series A Preferred Stock are cumulative from the date of original issuance and are payable quarterly, when and as declared, commencing on January 18, 2005 at the rate of 8.625% per annum of the $25.00 liquidation preference (equivalent to an annual dividend rate of $2.15625 per share). Dividends will be payable quarterly on the 15th day of January, April, July and October of each year, or if such day is not a business day, the next succeeding business day.
The Series A Preferred Stock has no maturity date, and we are not required to redeem the Series A Preferred Stock at any time. The Series A Preferred Stock is not redeemable prior to November 5, 2009 except in certain limited circumstances relating to the ownership limitation necessary to preserve our qualification as a REIT. On or after November 5, 2009, the Series A Preferred Stock will be redeemable for cash at our option, in whole or from time to time in part, at a redemption price of $25.00 per share, plus accrued and unpaid dividends, if any, to the redemption date.
Full Prospectus PDF », Secondary Prospectus PDF », RC Page »
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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. Preferreds: RC.PRB, RC.PRC, RC.PRD, RC.PRE Open the RC Information Page » |
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