NEW YORK, Jan. 11, 2022 — Ready Capital Corporation (NYSE: RC) (“Ready Capital” or the “Company”) today announced that the Company has priced an upsized underwritten public offering of 7,000,000 shares of common stock for total gross proceeds of approximately $108.9 million. In connection with the offering, the Company has granted the underwriters a 30-day option to purchase up to 1,050,000 additional shares of common stock. The Company intends to use the net proceeds from this offering to originate or acquire the Company’s target assets consistent with its investment strategy and for general corporate purposes. The offering is expected to close on January 14, 2022, and is subject to customary closing conditions.
Morgan Stanley, UBS Investment Bank, Wells Fargo Securities, Keefe, Bruyette & Woods, A Stifel Company, and Raymond James are acting as the joint book-running managers for the offering. The underwriters propose to offer the shares of common stock from time to time for sale in negotiated transactions or otherwise, at market prices prevailing at the time of sale, at prices related to such prevailing market prices or at negotiated prices.
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