Secondary Stock Offerings
By The Online Investor Staff, updated Mon., Jan. 24, 12:53 AM
| This Slide: #3 of 25 |
Slide #3. Ready Capital Corporation — Secondary Offering
Company:
Ready Capital Corporation (NYSE:RC)
Date announced:
1/11/2022
Shares Offered:
7,000,000
Date of Pricing:
1/11/2022
Price Per Share:
$15.56
Secondary Offering Details:
Ready Capital Corporation (NYSE:RC) ("Ready Capital" or the "Company") today announced that it is commencing an underwritten public offering of 6,000,000 shares of common stock. The Company expects to grant the underwriters a 30-day option to purchase up to 900,000 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. -updated 1/11- 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.
Ready Capital is a real estate finance company. Co. originates, acquires, finances, and services small to medium balance commercial (SBC) loans, Small Business Administration (SBA) loans, residential mortgage loans, and to a lesser extent, mortgage backed securities collateralized primarily by SBC loans, or other real estate-related investments. Co.'s loans are used by businesses to purchase real estate used in their operations or by investors seeking to acquire small multi-family, office, retail, mixed use or warehouse properties. Co.'s business segments include: Acquisitions, SBC originations, SBA originations, acquisitions and servicing, and residential mortgage banking.
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Avg. Broker Rec.
 
|
Buy (3.43 out of 4) 40th percentile
(ranked lower than approx. 60% of all stocks covered)
Analysts' Target Price: RC Stock Forecast Based on Zacks ABR data; powered by Xignite |
