Ready Capital Corp | 7.625% Series C Cumulative Redeemable Preferred Stock (RC.PRD)
Prospectus excerpt: We are offering 300,000 shares of our 7.625% Series C Cumulative Redeemable Preferred Stock, par value $0.01 per share (which we refer to as the ÙSeries C Preferred Stockˆ). We will pay cumulative dividends on the Series C Preferred Stock, from and including the date of original issuance, in the amount of $1.90625 per share each year, which is equivalent to 7.625% of the $25.00 liquidation preference per share. Dividends on the Series C Preferred Stock will be payable quarterly in arrears, beginning on April 15, 2015. Our other series of preferred stock outstanding as of the date of this prospectus supplement are 1,009,640 shares of our 6.25% Series B Cumulative Preferred Stock (which we refer to as our ÙSeries B Preferred Stockˆ), with a liquidation preference of $25.00 per share, and 1,919,378 shares of our 8.625% Series A Cumulative Preferred Stock (which we refer to as our ÙSeries A Preferred Stockˆ), with a liquidation preference of $25.00 per share. The Series C Preferred Stock will rank on parity with our Series A Preferred Stock and Series B Preferred Stock.
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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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