Ready Capital Investor Presentation Deck
First Quarter 2022 Results (continued)
Current Liquidity
Capital Markets
Balance Sheet
Mosaic Merger
▪ Total liquidity of $326 million¹ including cash, anticipated warehouse advances,
principal and interest receivable from servicers, and anticipated proceeds from
available-for-sale assets
READY CAPITAL.
▪ Closed a $1.1 billion commercial mortgage collateralized loan obligation, the
Company's largest CRE CLO to date
▪ Closed an underwritten public offering of $120.0 million aggregate principal
amount of 6.125% senior unsecured notes due 2025
■ Closed a secondary offering of 7,000,000 shares of common stock for net
proceeds of $106.6 million
▪ Net book value per share of $15.22 per common share
▪ Total leverage of 4.4x and recourse leverage ratio of 1.4x²
▪ The Company closed its acquisition of Mosaic Real Estate Credit, LLC. (MREC)
and related entities. The transaction increased capitalization $458.1 million and
expanded the Company's lending capabilities into construction lending.
1. Liquidity balance as of April 28, 2022
2. Recourse leverage ratio excludes $1.4 billion of secured borrowings that are non-recourse to the Company.
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