Ready Capital Corporation Announces Pricing of Public Offering of Senior Notes Due 2029

NEW YORK, Dec. 03, 2024 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE: RC) ("Ready Capital" or the "Company") today announced that it priced an underwritten public offering of $115.0 million aggregate principal amount of 9.00% Senior Notes due 2029 (the "Notes"). The Notes will be issued in minimum denominations and integral multiples of $25.00. The Company has granted to the underwriters a 30-day over-allotment option to purchase up to an additional $17.25 million aggregate principal amount of the Notes at the public offering price, less the underwriting discount. 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.