Ready Capital Corporation Closes $130 Million Public Offering
Exciting news for Ready Capital Corporation!
On December 10, 2024, Ready Capital Corporation announced the successful closure of an underwritten public offering of $130 million aggregate principal amount of 9.00% Senior Notes due 2029. This includes the additional $15 million aggregate principal amount from the exercise of the underwriters’ over-allotment option. The Notes were issued in minimum denominations of $25.00, and the Company plans to use the net proceeds for various investment strategies and general corporate purposes.
Key Players in the Offering
The underwriters for the offering included Morgan Stanley & Co. LLC, Piper Sandler & Co., RBC Capital Markets, LLC, UBS Investment Bank, and Wells Fargo Securities, LLC. These book-running managers played a crucial role in ensuring the success of the offering.
Now that the dust has settled on this financial transaction, what does it mean for Ready Capital Corporation and its stakeholders? The injection of capital from the public offering will undoubtedly provide the Company with the resources needed to pursue new opportunities and accelerate its growth.
How does this news impact me?
As a shareholder or potential investor, the successful public offering could indicate a positive outlook for Ready Capital Corporation’s future performance. The Company’s ability to raise capital through the issuance of Senior Notes demonstrates investor confidence in its business model and growth potential.
Global Implications of the Offering
From a broader perspective, Ready Capital Corporation’s successful public offering reflects the current market conditions and investor sentiment towards the financial sector. The ability to secure $130 million in funding amidst economic uncertainties speaks to the strength of the Company’s strategic vision and operational capabilities.
Conclusion
In conclusion, Ready Capital Corporation’s recent public offering marks a significant milestone in the Company’s growth trajectory. With the infusion of $130 million in capital, Ready Capital is well-positioned to pursue its investment strategy and drive value for its shareholders. The successful completion of this offering not only benefits the Company but also sends a positive signal to the financial market about Ready Capital’s prospects.
