Ready Capital Corporation Announces Approval of New $150 Million Stock Repurchase Program

On January 16, 2025, Ready Capital Corporation (NYSE: RC) disclosed in a recent filing that its Board of Directors has given the green light for a new stock repurchase program. Under this program, the company is authorized to repurchase up to $150.0 million of its common stock, which holds a par value of $0.0001 per share.

The repurchases will be conducted at the discretion of management and can occur sporadically on the open market, through privately negotiated transactions, or by any other means deemed suitable, all while ensuring adherence to Securities and Exchange Commission regulations and legal requirements. The buybacks may also be executed in part under one or more Rule 10b5-1 and Rule 10b-18 plans. These plans allow for stock repurchases during periods when the Company would otherwise be restricted from doing so.

The specifics of each repurchase, including timing and the amount involved, will be determined by the Company’s management. These decisions will be based on various factors such as market conditions, share price, legal requirements, and other relevant considerations. A press release detailing the approval of the new stock repurchase program has been attached as Exhibit 99.1 to the filing.

Additionally, Ready Capital Corporation emphasized that forward-looking statements contained in the press release are subject to numerous trends and uncertainties that might lead to actual results differing from those anticipated. The Company highlighted that it cannot guarantee the achievement of its expectations and outlined factors that could influence these results.

Ready Capital Corporation, listed on the New York Stock Exchange, specializes in a variety of real estate finance strategies, focusing on lower-to-middle-market investor- and owner-occupied commercial real estate loans. The company, headquartered in New York City, is managed externally by Waterfall Asset Management, LLC. For further information, interested parties can reach out to the company’s respective Investor Relations and Media Relations departments.

This disclosure was made in a Form 8-K filing with the Securities and Exchange Commission on January 16, 2025.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Ready Capital’s 8K filing here.

Ready Capital Company Profile

Ready Capital Corporation operates as a real estate finance company in the United States. It operates through two segments: LMM Commercial Real Estate and Small Business Lending. The company originates, acquires, finances, and services lower-to-middle-market (LLM) commercial real estate loans, small business administration (SBA) loans, residential mortgage loans, construction loans, and mortgage-backed securities collateralized primarily by LLM loans, or other real estate-related investments.