Core Viewpoint - NexPoint is deferring its vote on the proposed merger of UDF IV with Ready Capital and is encouraging shareholders to take no action until the Board properly reviews any competing proposal [1][2][6] Group 1: Concerns Regarding the Ready Merger - NexPoint has significant concerns about the Ready Merger, particularly regarding the Board's history of failing to protect shareholder interests [2][3] - The Glass Lewis report supports NexPoint's concerns, questioning the Board's ability to negotiate effectively and the timing of the transaction [3][7] Group 2: Proposal for Postponement - NexPoint urges the UDF IV Board to postpone the Special Meeting from March 4 to April 4, 2025, to allow for proper review of a competing proposal [4][5] - This postponement would ensure that if the Ready Merger is ultimately deemed superior, it could still be completed by the April 15, 2025 deadline [5] Group 3: Voting Recommendations - NexPoint has not voted on the Ready Merger and encourages shareholders to withhold their votes or withdraw any previously submitted votes to compel the Board to engage adequately [6][10] - The Board's previous engagements with NexPoint have been ignored or met with hostility, raising concerns about the Board's commitment to shareholder interests [6] Group 4: Issues with Shareholder Economics - UDF IV shareholders would receive a significant portion of their consideration in Ready Capital stock, which has been negatively impacted by declining cash flow and distribution cuts [9] - The merger may create additional selling pressure on Ready Capital's stock, further eroding its price and the value received by UDF IV shareholders [9] Group 5: Benefits to Board and Insiders - The Ready Merger provides disproportionate benefits to the UDF IV Board and insiders, allowing them to avoid accountability for past mismanagement [10] - Extensive indemnification provisions in the merger agreement limit shareholders' ability to seek recovery for misused funds, potentially amounting to tens of millions of dollars [10][11]

Core Viewpoint - Ready Capital Corporation will release its fourth quarter and full year 2024 financial results on March 3, 2025, before the market opens, followed by a webcast and conference call at 8:30 a.m. Eastern Time to discuss the results and provide a business update [1]. Group 1 - The financial results will cover the quarter and year ended December 31, 2024 [1]. - The company encourages the use of the webcast due to potential wait times for the conference call [2]. - The webcast will be available in the Investor Relations section of the company's website [2]. Group 2 - The conference call can be accessed via specific dial-in numbers for domestic and international participants [3]. - A replay of the call will be available on the company's website approximately two hours after the live call until March 17, 2025 [4]. Group 3 - Ready Capital Corporation is a multi-strategy real estate finance company that focuses on lower-to-middle-market commercial real estate loans [5]. - The company specializes in various types of loans, including agency multifamily, investor, construction, and bridge loans, as well as U.S. Small Business Administration loans [5]. - The company is headquartered in New York and employs approximately 500 professionals nationwide [5].

Core Viewpoint - Ready Capital Corporation has announced a stock repurchase program authorizing the repurchase of up to $150.0 million of its common stock, which will be executed at management's discretion based on market conditions and other factors [1]. Company Overview - Ready Capital Corporation is a multi-strategy real estate finance company that focuses on originating, acquiring, financing, and servicing lower-to-middle-market investor- and owner-occupied commercial real estate loans [3]. - The company specializes in loans backed by commercial real estate, including agency multifamily, investor, construction, and bridge loans, as well as U.S. Small Business Administration loans under its Section 7(a) program [3]. - Headquartered in New York, Ready Capital employs approximately 350 professionals nationwide and is externally managed and advised by Waterfall Asset Management, LLC [3]. Stock Repurchase Program - The Board of Directors has approved a stock repurchase program for up to $150.0 million, allowing repurchases to be made on the open market or through privately negotiated transactions [1]. - Repurchases will comply with Securities and Exchange Commission rules and may be conducted under Rule 10b5-1 and Rule 10b-18 plans, which allow for repurchases during certain periods [1]. - The timing and amount of repurchase transactions will be determined by management based on evaluations of market conditions, share price, and legal requirements [1].

Group 1 - Ready Capital Corporation declared a quarterly cash dividend of $0.25 per share of common stock and Operating Partnership unit for the quarter ended December 31, 2024, payable on January 31, 2025 [1] - The Company also declared a dividend of $0.390625 per share of its 6.25% Series C Cumulative Convertible Preferred Stock, payable on January 15, 2025 [2] - Additionally, a dividend of $0.40625 per share of its 6.50% Series E Cumulative Redeemable Preferred Stock was declared, payable on January 31, 2025 [3] Group 2 - Ready Capital Corporation is a multi-strategy real estate finance company that focuses on originating, acquiring, financing, and servicing lower-to-middle-market commercial real estate loans [4] - The Company specializes in loans backed by commercial real estate, including agency multifamily, investor, construction, bridge loans, and U.S. Small Business Administration loans under its Section 7(a) program [4] - Headquartered in New York, the Company employs approximately 350 professionals nationwide [4]

Core Viewpoint - NexPoint expresses strong disapproval of UDF IV's decision not to reconvene the Annual Meeting after failing to meet quorum, highlighting governance failures and concerns regarding the proposed acquisition by Ready Capital [2][4]. Group 1: Governance and Shareholder Engagement - UDF IV's failure to reconvene the Annual Meeting raises serious concerns about the Board's ability to protect shareholder interests, particularly in light of the proposed acquisition by Ready Capital [2][4]. - NexPoint calls for UDF IV to reconvene the Annual Meeting within 120 days and provide necessary disclosures for shareholders to assess the proposed transaction [3]. - The independent proxy advisory firm Glass Lewis shares concerns about UDF IV's governance and the timing of the Ready Capital deal, suggesting it may be an attempt to avoid accountability [4][5]. Group 2: Financial Disclosure and Accountability - NexPoint urges UDF IV to disclose the costs incurred by shareholders related to the Annual Meeting and efforts to avoid it, emphasizing the need for transparency [6]. - Shareholders are entitled to information to make informed decisions about the current Trustees and the proposed merger, and NexPoint encourages them to demand accountability [7]. Group 3: Shareholder Sentiment - NexPoint believes the vote at the Annual Meeting was much closer than reported, indicating significant shareholder dissatisfaction with UDF IV's leadership [4]. - The Company is accused of manipulating the Annual Meeting's purpose to sway votes in favor of the merger, which raises further concerns about governance practices [4][5].

Group 1 - The Conservative Income Portfolio aims to target value stocks with high margins of safety while reducing volatility through well-priced options [1] - The Enhanced Equity Income Solutions Portfolio is designed to generate yields of 7-9% while minimizing volatility [1] Group 2 - The analysis of Ready Capital (NYSE: RC) has concentrated on the company's challenges and its efforts to achieve a clean balance sheet [2] - The forecast of distribution cuts for investors was accurately predicted [2]

NEW YORK, Dec. 03, 2024 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE: RC) (“Ready Capital” or the “Company”) today announced that it is commencing an underwritten public offering of senior unsecured notes due 2029 (the “Notes”). 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. The maturity, interest rate and other terms of the Notes will be determined at the time of pricing ...

Ready Capital Corporation (NYSE:RC) Q3 2024 Earnings Conference Call November 8, 2024 8:30 AM ET Company Participants Andrew Ahlborn - Chief Financial Office Thomas Capasse - Chief Executive Officer Andrew Ahlborn - Chief Credit Officer Adam Zausmer - Chief Credit Officer Conference Call Participants Crispin Love - Piper Sandler Douglas Harter - UBS Jade Rahmani - KBW Stephen Laws - Raymond James Christopher Nolan - Landenburg Thalmann Matt Howlett - B. Riley Securities Operator Greetings, and welcome to th ...

Ready Capital (RC) reported $50.97 million in revenue for the quarter ended September 2024, representing a year-over-year decline of 13.6%. EPS of $0.25 for the same period compares to $0.28 a year ago.The reported revenue represents a surprise of -15.28% over the Zacks Consensus Estimate of $60.16 million. With the consensus EPS estimate being $0.23, the EPS surprise was +8.70%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall S ...

Ready Capital (RC) came out with quarterly earnings of $0.25 per share, beating the Zacks Consensus Estimate of $0.23 per share. This compares to earnings of $0.28 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 8.70%. A quarter ago, it was expected that this real estate investment trust would post earnings of $0.26 per share when it actually produced earnings of $0.07, delivering a surprise of -73.08%.Over the last four quart ...