Simpson Thacher Represents JPMorgan as Financial Advisor to Broadmark Realty Capital in Merger with Ready Capital Corp
02.27.23
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The Firm is representing J.P. Morgan Securities LLC as financial advisor to Broadmark Realty Capital Inc. (NYSE: BRMK) in connection with its all-stock merger with Ready Capital Corporation (NYSE: RC). Upon completion of the merger, the combined company is expected to have a pro forma equity capital base of $2.8 billion. Closing of the merger is subject to Broadmark and Ready Capital shareholder approval and other customary closing conditions.
Broadmark is a specialty real estate finance company, providing smart, reliable, rapid financing solutions across the entire debt capital stack, including senior, subordinate, and participation investments with fixed and floating rate structures available. Ready Capital is a multi-strategy real estate finance company that originates, acquires, finances and services small- to medium-sized balance commercial loans.
The Simpson Thacher team included Chan Ho Park (M&A).