Business Context and Reporting Period
This Form 8-K Current Report, dated September 25, 2018, concerns Ready Capital Corporation (formerly Sutherland Asset Management Corporation). The filing reports a corporate name change and associated administrative updates effective September 26, 2018.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report is strictly administrative and does not contain financial performance data.
Material Changes
- Corporate Name Change: The company changed its name from Sutherland Asset Management Corporation to Ready Capital Corporation, effective September 26, 2018.
- Trading Symbol Updates: Effective October 1, 2018, trading symbols on the New York Stock Exchange will change as follows:
- Common Stock: From "SLD" to "RC"
- 7.00% Convertible Senior Notes due 2023: From "SLDA" to "RCA"
- 6.50% Senior Notes due 2021: From "SLDD" to "RCP"
- CUSIP Number Updates: New CUSIP numbers were assigned for the common stock (75574U 101), convertible notes (75574U 200), and senior notes (75574U 309).
- Governance Documents: The Articles of Amendment, Amended and Restated Bylaws, and Amended and Restated Limited Partnership Agreement were filed to reflect the name change.
Guidance, Outlook, and Risks
The filing text does not provide a clear value for guidance, outlook, management commentary, risks, contingencies, or unusual items. The document focuses solely on the legal and administrative execution of the name change.
Investor Verification Checklist
- Confirm the effective date of the name change (September 26, 2018) and the trading symbol change (October 1, 2018).
- Update trading systems and records with the new ticker symbols (RC, RCA, RCP) and CUSIP numbers.
- Review the attached exhibits (3.1, 3.2, and 10.1) for the full text of the amended governance documents.
- Verify that existing holdings of "SLD", "SLDA", and "SLDD" will automatically convert to the new symbols without action required by the investor.