Ready Capital Corp., a multi-strategy real estate finance company that originates, acquires, finances and services small- to medium-sized balance commercial loans, and Anworth Mortgage Asset Corp., a specialty finance REIT that focuses primarily on investments in residential mortgage–backed securities, have entered into a definitive merger agreement pursuant to which Ready Capital will combine with Anworth.
The combined company is expected to have a pro forma equity capital base in excess of $1 billion. The combination is expected to enhance shareholder liquidity and provide for increased operating leverage across the larger equity base.
Based on the closing prices of Ready Capital’s common stock on Dec. 4, the market capitalization of the combined company would be approximately $984 million. The combined company will operate under the name Ready Capital.
