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AI brief of an SEC Form 8-K · Ready Capital Corp (RC)

Ready Capital Prices $225M Senior Notes Due 2031, Redeems $350M of 2026 Notes

Mixed Impact 3 of 5 financing Written later

Ready Capital's subsidiary priced a $225.0 million private placement of 10.00% senior secured notes due 2031, with closing expected September 28, 2026. Proceeds, with available cash, will redeem in full the company's $350.0 million 4.50% senior secured notes due 2026, which the company says reduces corporate secured debt by $125 million. The new notes carry a higher interest rate than the notes they replace.

Key points

  • New notes: $225.0 million of 10.00% senior secured notes due 2031, priced at 99.5% of principal
  • Existing notes: $350.0 million of 4.50% notes due 2026 to be redeemed at 100% of principal plus accrued interest on September 28, 2026
  • Company says its sole remaining 2026 corporate maturity after redemption will be $100.0 million due in November 2026
  • If the offering does not close by October 19, 2026, escrowed proceeds will be returned to the purchasers

The filing

CompanyReady Capital Corp (RC)
Form8-K, current report
Filed with the SECSep 18, 2026, 7:36 AM ET
Accession number0001628280-26-062620

Items reported: 2.03 New Direct Financial Obligation8.01 Other Events

Read the filing on SEC.gov ↗

Written by AI on Nov 9, 2026, 8:38 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 18, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.