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Ready Capital Corp T.RC


Primary Symbol: RC Alternate Symbol(s):  RC.PR.C

Ready Capital Corporation is a multi-strategy real estate finance company that originates, acquires, finances and services small- to medium-sized balance commercial loans. Its segments include LMM Commercial Real Estate and Small Business Lending. The LMM Commercial Real Estate segment originates lower-to-middle-market commercial real estate (LMM) loans across the full life cycle of an LMM property including construction, bridge, stabilized and agency loan origination channels through its wholly owned subsidiary, ReadyCap Commercial, LLC. These originated loans are generally held-for-investment or placed into securitization structures. As part of this segment, it originates and services multi-family loan products under the Freddie Mac SBL program. The Small Business Lending segment acquires, originates and services owner-occupied loans guaranteed by the Small Business Administration (SBA) under its SBA Section 7(a) Program through its wholly owned subsidiary, ReadyCap Lending, LLC.


NYSE:RC - Post by User

Comment by griffpon Mar 02, 2017 7:57pm
122 Views
Post# 25923726

RE:Exit or accumulation

RE:Exit or accumulationI am deeply disappointed at the RDM senior management at negotiating, accepting and promoting this offer. Certainly the major RDM block holders...the 17%'rs.... have a a vested interest in this buyout offer but I don't think the small shareholder is well represented in this offer.  Personally, this offer seriously underestimates the present and future value of RDM.  Over 5 years, RDM has moved from 1$/share to 4.94$ / Feb4 just before this takeover offer.  This represents a 300% gain...or 60%/year gain on average.  Furthermore, RDM has 35Million$ booked cash in the Total Asset Value of 50 Million$..... with a market cap of 143Million$... showwing EPS of .23/share.....and the offer of 20% over market price....Really??  The RDM press release states that the buyout is a 35% premium of the 90 Day EV but later states that the buy out is only a 14 to 20% premium over short term market value per share, so I  am being asked to tender shares for, at best, a half year of share value growth.   Really?    Yes...I think accumulators are betting there is more in this deal.   Give me a chance to vote NO and it will be the fastest NO anyone has ever filled in on a proxy!  Unfortunately and sadly, it isn't about what the small share holders want......is it?
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