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Midas Edge

Ready Capital Corp

For the period ended Dec 31, 2023. Filed Feb 28, 2024.

View on SEC.gov

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 28, 2024

RC$1.04+22.1%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits
Contents

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

​​​​​​​​​​​​​​​​​​​​​​​​​​​​
​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​
​ · Preferred Series B · ​ · Preferred Series D · ​ · Preferred Series E · ​ · Common Stock · ​ · Additional Paid- · ​ · Retained Earnings · ​ · Accumulated Other · Total Ready Capital · Non-Controlling · ​ · Total Stockholders'
(in thousands, except share data) · Shares · ​ · Amount · ​ · Shares · ​ · Amount · ​ · Shares · ​ · Amount · ​ · Shares · ​ · Amount · ​ · In Capital · (Deficit) · Comprehensive Income (Loss) · Corporation Equity · Interest · Equity
Balance at December 31, 2020—$—​—$—​—$—​54,368,999$5$849,541$(24,203)$(9,947)$815,396$18,812$834,208
Dividend declared:—​—​—​—​​​​​​​​​​​​​​​​​​​​
Common Stock ($1.66 per share)—​—​—​—​—​—​—​—​—​(117,440)​—​(117,440)​—​(117,440)
OP units—​—​—​—​—​—​—​—​—​—​—​—​(1,581)​(1,581)
$1.088125 per Series B preferred share—​—​—​—​—​—​—​—​—​(1,162)​—​(1,162)​(1)​(1,163)
$1.562505 per Series C preferred share—​—​—​—​—​—​—​—​—​(492)​—​(492)​—​(492)
$0.953125 per Series D preferred share—​—​—​—​—​—​—​—​—​(1,074)​—​(1,074)​(1)​(1,075)
$1.038460 per Series E preferred share—​—​—​—​—​—​—​—​—​(4,775)​—​(4,775)​—​(4,775)
Shares issued pursuant to merger transactions1,919,378​47,984​2,010,278​50,257​—​—​16,774,337​2​239,535​—​—​337,778​—​337,778
Equity issuances—​—​—​—​4,600,000​111,378​3,527,935​1​55,308​—​—​166,687​—​166,687
Equity redemptions(1,919,378)​(47,984)​(2,010,278)​(50,257)​—​—​—​—​—​—​—​(98,241)​—​(98,241)
Offering costs—​—​—​—​—​—​—​—​(1,621)​—​—​(1,621)​(16)​(1,637)
Equity component of 2017 convertible note issuance—​—​—​—​—​—​—​—​(410)​—​—​(410)​(7)​(417)
Distributions, net—​—​—​—​—​—​—​—​—​—​—​—​(226)​(226)
Stock-based compensation—​—​—​—​—​—​288,436​—​4,419​—​—​4,419​—​4,419
Conversion of OP units into common stock—​—​—​—​—​—​882,202​—​13,207​—​—​13,207​(13,207)​—
Manager incentive fee paid in stock—​—​—​—​—​—​84,758​—​1,386​—​—​1,386​—​1,386
Share repurchases—​—​—​—​—​—​(88,617)​—​(1,293)​—​—​(1,293)​—​(1,293)
Reallocation of non-controlling interest—​—​—​—​—​—​—​—​1,781​—​(189)​1,592​(1,592)​—
Net income—​—​—​—​—​—​—​—​—​157,744​—​157,744​2,230​159,974
Other comprehensive income—​—​—​—​—​—​—​—​—​—​4,403​4,403​83​4,486
Balance at December 31, 2021—$—​—$—​4,600,000$111,378​75,838,050$8$1,161,853$8,598$(5,733)$1,276,104$4,494$1,280,598
Dividend declared:​​​​​​​​​​​​​​​​​​​​​​​​​​​
Common Stock ($1.66 per share)—​—​—​—​—​—​—​—​—​(189,871)​—​(189,871)​—​(189,871)
OP units—​—​—​—​—​—​—​—​—​—​—​—​(2,794)​(2,794)
$1.5625 per Series C preferred share—​—​—​—​—​—​—​—​—​(524)​—​(524)——​(524)
$1.6250 per Series E preferred share—​—​—​—​—​—​—​—​—​(7,472)​—​(7,472)​—​(7,472)
Distributions, net—​—​—​—​—​—​—​—​—​—​—​—​(14,317)​(14,317)
Shares issued pursuant to merger transactions—​—​—​—​—​—​30,252,764​3​437,308​—​—​437,311​—​437,311
OP units issued pursuant to merger transactions—​—​—​—​—​—​—​—​—​—​—​—​20,745​20,745
Non-controlling interest acquired in merger transaction—​—​—​—​—​—​—​—​—​—​—​—​82,524​82,524
Retirement of OP units—​—​—​—​—​—​—​—​—​—​—​—​(2,000)​(2,000)
Equity issuances—​—​—​—​—​—​8,100,926​—​124,515​—​—​124,515​—​124,515
Offering costs—​—​—​—​—​—​—​—​(1,178)​—​—​(1,178)​(10)​(1,188)
Equity component of 2017 convertible note issuance—​—​—​—​—​—​—​—​(443)​—​—​(443)​(5)​(448)
Sale of subsidiary interest to non-controlling interest—​—​—​—​—​—​—​—​—​—​—​—​167​167
Stock-based compensation—​—​—​—​—​—​409,642​—​6,196​—​—​6,196​—​6,196
Share repurchases—​—​—​—​—​—​(4,077,741)​—​(42,622)​—​—​(42,622)​—​(42,622)
Reallocation of non-controlling interest—​—​—​—​—​—​—​—​(1,555)​—​128​(1,427)​1,427​—
Net income—​—​—​—​—​—​—​—​—​194,263​—​194,263​8,900​203,163
Other comprehensive income (loss)—​—​—​—​—​—​—​—​—​—​(3,764)​(3,764)​15​(3,749)
Balance at December 31, 2022—$—​—$—​4,600,000$111,378​110,523,641$11$1,684,074$4,994$(9,369)$1,791,088$99,146$1,890,234
Dividend declared:​​​​​​​​​​​​​​​​​​​​​​​​​​​
Common Stock ($1.46 per share)—​—​—​—​—​—​—​—​—​(212,035)​—​(212,035)​—​(212,035)
OP units—​—​—​—​—​—​—​—​—​—​—​—​(2,169)​(2,169)
$1.5625 per Series C preferred share—​—​—​—​—​—​—​—​—​(524)​—​(524)​—​(524)
$1.6250 per Series E preferred share—​—​—​—​—​—​—​—​—​(7,473)​—​(7,473)​—​(7,473)
Distributions, net—​—​—​—​—​—​(503)​—​(6)​—​—​(6)​(187)​(193)
Shares issued pursuant to merger transactions—​—​—​—​—​—​62,229,429​6​637,223​—​—​637,229​—​637,229
Equity issuances—​—​—​—​—​—​—​—​125​—​—​125​—​125
Offering costs—​—​—​—​—​—​—​—​(226)​—​—​(226)​(2)​(228)
Equity component of 2017 convertible note issuance—​—​—​—​—​—​—​—​(191)​—​—​(191)​(3)​(194)
Stock-based compensation—​—​—​—​—​—​1,266,615​—​15,622​—​—​15,622​—​15,622
Conversion of OP units into common stock—​—​—​—​—​—​263,401​—​2,842​—​—​2,842​(2,842)​—
Share repurchases—​—​—​—​—​—​(2,006,478)​—​(21,845)​—​—​(21,845)​—​(21,845)
Reallocation of non-controlling interest—​—​—​—​—​—​—​—​4,371​—​17​4,388​(4,388)​—
Net income—​—​—​—​—​—​—​—​—​339,451​—​339,451​8,960​348,411
Other comprehensive loss—​—​—​—​—​—​—​—​—​—​(8,508)​(8,508)​(51)​(8,559)
Balance at December 31, 2023—$—​—$—​4,600,000$111,378​172,276,105$17$2,321,989$124,413$(17,860)$2,539,937$98,464$2,638,401
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.