Earnings ·
Reports Q3 GAAP loss per share of $(0.40) and issues $225M in 10% Senior Secured Notes due 2031
RCReady Capital Corp
Ready Capital reported a third-quarter GAAP net loss attributable to common stockholders of $66.1 million, or $(0.40) per share, driven by realized losses on investments and loan impairments. Distributable loss was $(0.53) per share, while distributable loss before realized losses stood at $(0.21). The company issued $225.0 million in aggregate principal amount of 10.00% Senior Secured Notes due 2031 and redeemed the entire $350.0 million of its 4.50% Senior Secured Notes maturing in September 2026, completing the retirement of all 2026 corporate maturities. Total loan originations for the quarter were $303.4 million, including $132.9 million in lower-to-middle-market commercial real estate loans and $109.3 million in Small Business Administration 7(a) loans. Book value per share declined to $6.44 as of September 30, 2026. Ready Capital is a multi-strategy real estate finance company that originates, acquires, finances, and services lower-to-middle-market commercial real estate loans.