June 15, 2021 /PRNewswire/ -- Ready Capital Corporation (NYSE: RC) ("Ready Capital" or the "Company") today announced its intention to redeem all of its 8.625% Series B Cumulative Preferred Stock (CUSIP No. 75574U 507) (the "Series B Preferred Stock") and its 7.625% Series D Cumulative Redeemable Preferred Stock (CUSIP No. 75574U 804) (the "Series D Preferred Stock"), pursuant to its option under the respective Articles Supplementary, each dated as of March 17, 2021. The redemption date for Series D Preferred Stock is July 15, 2021 (the "Redemption Date"). The redemption price for the Series D Preferred Stock is $25.00 per share, plus accrued and unpaid dividends up to, but excluding, the Redemption Date (the "Series D Preferred Stock Redemption Price"). From and after the Redemption Date, dividends on the Series D Preferred Stock will cease to accrue and the only remaining right of the holders of the Series D Preferred Stock will be to receive payment of the Series D Preferred Stock Redemption Price.

QUANTUMONLINE.COM SECURITY DESCRIPTION:  Ready Capital Corp., 7.625% Series D Cumulative Redeemable Preferred Stock, formerly Anworth Mortgage Asset Corp., 7.625% Series C Cumulative Redeemable Preferred Stock, liquidation preference $25 per share, redeemable at the issuer's option on or after 1/27/2020 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions of 7.625% per annum ($1.90625 per annum or $0.47656 per quarter) will be paid quarterly on 1/15, 4/15, 7/15 & 10/15 to holders of record on the record date that will be 3/31, 6/30, 9/30 & 12/31 (NOTE: the ex-dividend date is one business day prior to the record date). Dividends paid by preferreds issued by REITs are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. Upon the occurrence of a change of control the company will have the option within 120 days to redeem the preferred shares at $25 per share plus accrued and unpaid dividends. If the company has exercised their redemption right, the holders will NOT have the following conversion right. Upon the occurrence of a change of control, and the company has NOT provided notice that they intend to redeem the preferred shares, the holder will have the right to convert the preferred shares into common shares under certain circumstances (see the prospectus for details). This security was not rated by Moody’s or S&P at the time of its IPO. In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.

Stock Exchange	Cpn Rate Ann Amt	LiqPref CallPrice	Call Date Matur Date	Moodys/S&P Dated	Distribution Dates	15% Tax Rate
NYSE Chart	7.63% $1.91	$25.00 $25.00	Called for 7/15/2021 None	NF NF 3/22/2021	1/15, 4/15, 7/15 & 10/15 Click for MW ExDiv Date Click for Yahoo ExDiv Date	No

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HOME PAGE:     https://readycapital.com/
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Email Address	InvestorRelations@readycapital.com
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Address and Phone Numbers

Address:   1251 Avenue of the Americas, 50th Floor, New York, NY 10036
Main Phone Number	212-257-4600
Fax Number	Not Available
Investor Contact	212-257-4666

CEO - Thomas E. Capasse

CFO - Andrew Ahlborn