Broadmark Realty Capital Stockholders Approve Merger With Ready Capital Corporation; Merger Expected To Close Pre-Market Open On May 31
Portfolio Pulse from Happy Mohamed
Broadmark Realty Capital's stockholders have approved the merger with Ready Capital Corporation. The merger is expected to close pre-market open on May 31, 2023. As a result, each share of Broadmark common stock will be converted into 0.47233 shares of Ready Capital common stock.
May 30, 2023 | 8:11 pm
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NEUTRAL IMPACT
Broadmark Realty Capital's stockholders approved the merger with Ready Capital. Broadmark common stock will be converted into 0.47233 shares of Ready Capital common stock.
The merger approval is a significant event for Broadmark shareholders. However, the short-term impact on the stock price is neutral, as the conversion ratio has already been determined and the market has likely priced in the merger.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEUTRAL IMPACT
Ready Capital's stockholders have approved the issuance of shares in connection with the merger with Broadmark Realty Capital. The merger is expected to close on May 31, 2023.
The merger approval is a significant event for Ready Capital shareholders. However, the short-term impact on the stock price is neutral, as the market has likely priced in the merger and the issuance of shares in connection with the merger.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100