Ready Capital Corporation Announces New Share Repurchase Program
01 Junio 2023 - 3:20PM
Ready Capital Corporation (“Ready Capital” or the “Company”) (NYSE:
RC), a multi-strategy real estate finance company that originates,
acquires, finances, and services small-to-medium balance commercial
loans, today announced that its Board of Directors approved a stock
repurchase program authorizing the repurchase of up to $100.0
million of the Company’s common stock. Repurchases under the stock
repurchase program may be made at management’s discretion from time
to time on the open market, in privately negotiated transactions or
otherwise, in each case subject to compliance with all Securities
and Exchange Commission rules and other legal requirements, and may
be made in part under one or more Rule 10b5-1 and Rule 10b-18
plans, which permit stock repurchases at times when the Company
might otherwise be precluded from doing so. The timing and amount
of any repurchase transactions will be determined by the Company’s
management based on its evaluation of market conditions, share
price, legal requirements and other factors.
Safe Harbor Statement
This press release contains statements that
constitute "forward-looking statements," as such term is defined in
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended, and such
statements are intended to be covered by the safe harbor provided
by the same. These statements are based on management's current
expectations and beliefs and are subject to a number of trends and
uncertainties that could cause actual results to differ materially
from those described in the forward-looking statements; the Company
can give no assurance that its expectations will be attained.
Factors that could cause actual results to differ materially from
the Company's expectations include, but are not limited to,
applicable regulatory changes; general volatility of the capital
markets; changes in the Company's investment objectives and
business strategy; the Company's ability to complete acquisitions
and related transactions and to achieve expected synergies; the
availability of financing on acceptable terms or at all; the
availability, terms and deployment of capital; the availability of
suitable investment opportunities; changes in the interest rates or
the general economy; increased rates of default and/or decreased
recovery rates on investments; changes in interest rates, interest
rate spreads, the yield curve or prepayment rates; changes in
prepayments of Company's assets; the degree and nature of
competition, including competition for the Company's target assets;
and other factors, including those set forth in the Risk Factors
section of the Company's most recent Annual Report on Form 10-K
filed with the SEC, and other reports filed by the Company with the
SEC, copies of which are available on the SEC's website,
www.sec.gov. The Company undertakes no obligation to update these
statements for revisions or changes after the date of this release,
except as required by law.
About Ready Capital
Corporation
Ready Capital Corporation (NYSE: RC) is a
multi-strategy real estate finance company that originates,
acquires, finances and services small to medium balance commercial
loans. Ready Capital specializes in loans backed by commercial real
estate, including agency multifamily, investor and bridge as well
as SBA 7(a) business loans. Headquartered in New York, New York,
Ready Capital employs over 600 lending professionals nationwide.
The company is externally managed and advised by Waterfall Asset
Management, LLC.
Contact
Investor Relations 212-257-4666
InvestorRelations@readycapital.com
Media Relations PR@readycapital.com
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