Ready Capital Corporation Announces Closing of Public Offering of Senior Notes Due 2029 and Partial Exercise of Over-allotment Option

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.