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Ready Capital Corporation Announces New Share Repurchase Program
RCReady Capital (RC) GlobeNewswire·2025-01-16 21:15

Core Viewpoint - Ready Capital Corporation has announced a stock repurchase program authorizing the repurchase of up to 150.0millionofitscommonstock,whichwillbeexecutedatmanagement′sdiscretionbasedonmarketconditionsandotherfactors[1].CompanyOverview−ReadyCapitalCorporationisamulti−strategyrealestatefinancecompanythatfocusesonoriginating,acquiring,financing,andservicinglower−to−middle−marketinvestor−andowner−occupiedcommercialrealestateloans[3].−Thecompanyspecializesinloansbackedbycommercialrealestate,includingagencymultifamily,investor,construction,andbridgeloans,aswellasU.S.SmallBusinessAdministrationloansunderitsSection7(a)program[3].−HeadquarteredinNewYork,ReadyCapitalemploysapproximately350professionalsnationwideandisexternallymanagedandadvisedbyWaterfallAssetManagement,LLC[3].StockRepurchaseProgram−TheBoardofDirectorshasapprovedastockrepurchaseprogramforupto150.0 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].