0001104659-21-145934.txt : 20211202
0001104659-21-145934.hdr.sgml : 20211202
20211202163108
ACCESSION NUMBER: 0001104659-21-145934
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20211130
FILED AS OF DATE: 20211202
DATE AS OF CHANGE: 20211202
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Capasse Thomas E
CENTRAL INDEX KEY: 0001469065
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-35808
FILM NUMBER: 211467004
BUSINESS ADDRESS:
BUSINESS PHONE: 2128438906
MAIL ADDRESS:
STREET 1: SUTHERLAND ASSET MANAGEMENT CORPORATION
STREET 2: 1185 AVENUE OF THE AMERICAS, 18TH FLOOR
CITY: NEW YORK
STATE: NY
ZIP: 10036
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: Ready Capital Corp
CENTRAL INDEX KEY: 0001527590
STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798]
IRS NUMBER: 900729143
STATE OF INCORPORATION: MD
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 1140 AVENUE OF THE AMERICAS, 7TH FLOOR
CITY: NEW YORK
STATE: NY
ZIP: 10036
BUSINESS PHONE: 212-257-4600
MAIL ADDRESS:
STREET 1: 1140 AVENUE OF THE AMERICAS, 7TH FLOOR
CITY: NEW YORK
STATE: NY
ZIP: 10036
FORMER COMPANY:
FORMER CONFORMED NAME: Sutherland Asset Management Corp
DATE OF NAME CHANGE: 20161110
FORMER COMPANY:
FORMER CONFORMED NAME: ZAIS Financial Corp.
DATE OF NAME CHANGE: 20110808
4
1
tm2134345-2_4seq1.xml
OWNERSHIP DOCUMENT
X0306
4
2021-11-30
0
0001527590
Ready Capital Corp
RC
0001469065
Capasse Thomas E
1251 AVENUE OF THE AMERICAS 50TH FLOOR
NEW YORK
NY
10020
1
1
0
0
Chief Executive Officer
6.50% Series E Cumulative Redeemable Preferred Stock
2021-11-30
4
P
0
20000
24.5871
A
20000
D
Common Stock
102630
I
By Waterfall
Common Stock
309925
D
Common Stock
26623
I
By Edward J. Capasse Revocable Trust
The price reported is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $24.55 to $24.71, inclusive on November 30, 2021. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote.
Upon the occurrence of a Change of Control (as defined in the Articles Supplementary relating to the Series E Preferred Stock) of the Issuer, the Reporting Person will have the right to convert the shares of Series E Preferred Stock into a number of shares of common stock of the Issuer per share of Series E Preferred Stock equal to the lesser of (A) the quotient obtained by dividing (i) the sum of (x) the $25.00 liquidation preference plus (y) the amount of any accrued and unpaid dividends by (ii) the Common Stock Price (as defined in the Articles Supplementary relating to the Series E Preferred Stock) and (B) 3.2916, subject to certain adjustments indicated in the Articles Supplementary relating to the Series E Preferred Stock.
These shares represent the 102,630 shares of Common Stock of the Issuer out of the 341,428 and 8,869 total shares of Common Stock owned by the Manager and its affiliate, Waterfall Management, LLC ("WM" and together with the Manager, "Waterfall"), respectively, based on the Reporting Person's percentage of direct ownership interests in Waterfall.
WM serves as the general partner of Sutherland REIT Holdings, LP (the "Partnership") and may be deemed to be the beneficial owner of the shares of Common Stock that are held by the Partnership. In addition, the Reporting Person is a principal of the Manager and may be deemed to share voting and investment power over the 13,195,300 shares of Common Stock held by the Partnership.
These shares are held in a trust for the benefit of the Reporting Person's father. The Reporting Person's father is trustee of the trust. The Reporting Person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the Reporting Person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.
/s/ Thomas E. Capasse
2021-12-02