AGÕæÈ˹ٷ½

STOCK TITAN

[SCHEDULE 13D] Ready Capital Corporation SEC Filing

Filing Impact
(Low)
Filing Sentiment
(Neutral)
Form Type
SCHEDULE 13D
Rhea-AI Filing Summary

Howard Amster and 22 affiliated entities filed a Schedule 13D reporting ownership of 8,976,200 Ready Capital (RC) shares, equal to 5.3 % of the 170.5 M shares outstanding as of 8 May 2025. Amster holds 2.31 M shares directly, while the balance is spread across partnerships, trusts, foundations and corporations where he has sole or shared voting/dispositive power.

The group invested roughly $53.6 million to establish the position and disclosed recent open-market purchases: 63.9 K shares on 24-25 Jun 2025 at $4.48-4.50 and 542.6 K shares on 29 Jul 2025 at $4.36-4.48. Purchases were financed with personal funds/working capital and may be margined through RBC Capital Markets and Interactive Brokers.

Intent: investment purposes. While no specific plans are announced, the filing leaves open further buying, selling, hedging or engagement with RC’s board, including possible proposals on strategy, capital structure or governance.

No criminal or civil proceedings involve the filers, and no contracts other than a joint-filing agreement exist.

Howard Amster e 22 entità affiliate hanno presentato un Schedule 13D dichiarando la proprietà di 8.976.200 azioni Ready Capital (RC), pari al 5,3% delle 170,5 milioni di azioni in circolazione al 8 maggio 2025. Amster detiene direttamente 2,31 milioni di azioni, mentre il resto è distribuito tra partnership, trust, fondazioni e società in cui detiene il potere di voto/dispositivo in modo esclusivo o condiviso.

Il gruppo ha investito circa 53,6 milioni di dollari per acquisire la posizione e ha comunicato acquisti recenti sul mercato aperto: 63.900 azioni il 24-25 giugno 2025 a 4,48-4,50 dollari e 542.600 azioni il 29 luglio 2025 a 4,36-4,48 dollari. Gli acquisti sono stati finanziati con fondi personali/capitale operativo e potrebbero essere stati effettuati con margine tramite RBC Capital Markets e Interactive Brokers.

Intento: finalità di investimento. Sebbene non siano stati annunciati piani specifici, la comunicazione lascia aperta la possibilità di ulteriori acquisti, vendite, coperture o coinvolgimento con il consiglio di amministrazione di RC, comprese eventuali proposte su strategia, struttura del capitale o governance.

Non sono in corso procedimenti penali o civili che coinvolgano i dichiarante, e non esistono contratti diversi dall’accordo di presentazione congiunta.

Howard Amster y 22 entidades afiliadas presentaron un Schedule 13D reportando la propiedad de 8.976.200 acciones de Ready Capital (RC), equivalentes al 5,3 % de las 170,5 millones de acciones en circulación al 8 de mayo de 2025. Amster posee 2,31 millones de acciones directamente, mientras que el resto está distribuido entre sociedades, fideicomisos, fundaciones y corporaciones donde tiene poder de voto/dispositivo exclusivo o compartido.

El grupo invirtió aproximadamente 53,6 millones de dólares para establecer la posición y divulgó compras recientes en el mercado abierto: 63.900 acciones los días 24-25 de junio de 2025 a 4,48-4,50 dólares y 542.600 acciones el 29 de julio de 2025 a 4,36-4,48 dólares. Las compras fueron financiadas con fondos personales/capital de trabajo y podrían haberse realizado con margen a través de RBC Capital Markets e Interactive Brokers.

±õ²Ô³Ù±ð²Ô³¦¾±Ã³²Ô: fines de inversión. Aunque no se anunciaron planes específicos, la presentación deja abierta la posibilidad de seguir comprando, vendiendo, cubriendo o involucrándose con la junta directiva de RC, incluyendo posibles propuestas sobre estrategia, estructura de capital o gobernanza.

No hay procedimientos penales o civiles que involucren a los presentantes, y no existen contratos aparte de un acuerdo de presentación conjunta.

하워ë“� 암스터와 22ê°� ê´€ë � 법ì¸ì� 2025ë…� 5ì›� 8ì� 기준 ì´� 1ì–� 7,050ë§� ì£� ì¤� 5.3%ì—� 해당하는 8,976,200 Ready Capital(RC) 주ì‹ì� 소유ë¥� 보고하는 Schedule 13Dë¥� 제출했습니다. 암스터는 ì§ì ‘ 231ë§� 주를 보유하고 있으ë©�, 나머지ëŠ� 그가 ë‹¨ë… ë˜ëŠ” ê³µë™ ì˜ê²°ê¶�/ì²˜ë¶„ê¶Œì„ ê°€ì§� 파트너십, ì‹ íƒ, 재단 ë°� 법ì¸ì—� ë¶„ì‚°ë˜ì–´ 있습니다.

ì� ê·¸ë£¹ì€ ì•� 5,360ë§� 달러ë¥� 투ìží•˜ì—¬ 해당 ì§€ë¶„ì„ í™•ë³´í–ˆìœ¼ë©�, 최근 공개 시장ì—서ì� 매입 ë‚´ì—­ë� 공개했습니다: 2025ë…� 6ì›� 24-25ì¼ì— 63,900주를 4.48-4.50달러ì—�, 7ì›� 29ì¼ì— 542,600주를 4.36-4.48달러ì—� 매입했습니다. 매입 ìžê¸ˆì€ ê°œì¸ ìžê¸ˆ/ìš´ì˜ ìžë³¸ìœ¼ë¡œ 조달ë˜ì—ˆìœ¼ë©°, RBC Capital Markets와 Interactive Brokersë¥� 통한 마진 거래가 있었ì� ìˆ� 있습니다.

목ì : íˆ¬ìž ëª©ì . 구체ì ì¸ 계íšì€ 발표ë˜ì§€ 않았으나, 제출서는 추가 매수, 매ë„, 헤지 ë˜ëŠ” RC ì´ì‚¬íšŒì™€ì� êµë¥˜ 가능성ì� ì—´ì–´ë‘ê³  있으ë©�, ì „ëžµ, ìžë³¸ 구조 ë˜ëŠ” 거버넌스ì—� ê´€í•� 제안ë� í¬í•¨ë� ìˆ� 있습니다.

제출ìžë“¤ê³� ê´€ë ¨ëœ í˜•ì‚¬ ë˜ëŠ” 민사 ì†Œì†¡ì€ ì—†ìœ¼ë©�, ê³µë™ ì œì¶œ 계약 ì™¸ì— ë‹¤ë¥¸ 계약ë� 존재하지 않습니다.

Howard Amster et 22 entités affiliées ont déposé un Schedule 13D déclarant la propriété de 8 976 200 actions Ready Capital (RC), soit 5,3 % des 170,5 millions d’actions en circulation au 8 mai 2025. Amster détient directement 2,31 millions d’actions, tandis que le solde est réparti entre des partenariats, des trusts, des fondations et des sociétés où il exerce un pouvoir de vote/disposition exclusif ou partagé.

Le groupe a investi environ 53,6 millions de dollars pour établir cette position et a révélé des achats récents sur le marché libre : 63 900 actions les 24-25 juin 2025 à 4,48-4,50 dollars et 542 600 actions le 29 juillet 2025 à 4,36-4,48 dollars. Ces achats ont été financés par des fonds personnels/capitaux de travail et peuvent avoir été effectués avec effet de levier via RBC Capital Markets et Interactive Brokers.

Intention : fins d’investissement. Bien qu’aucun plan spécifique n’ait été annoncé, le dépôt laisse la porte ouverte à d’autres achats, ventes, couvertures ou engagements avec le conseil d’administration de RC, y compris d’éventuelles propositions concernant la stratégie, la structure du capital ou la gouvernance.

Aucune procédure pénale ou civile n’implique les déposants, et aucun contrat autre qu’un accord de dépôt conjoint n’existe.

Howard Amster und 22 verbundene Einheiten reichten ein Schedule 13D ein, in dem sie den Besitz von 8.976.200 Ready Capital (RC) Aktien meldeten, was 5,3 % der 170,5 Mio. ausstehenden Aktien zum 8. Mai 2025 entspricht. Amster hält 2,31 Mio. Aktien direkt, während der Rest auf Partnerschaften, Treuhandfonds, Stiftungen und Gesellschaften verteilt ist, bei denen er alleinige oder gemeinsame Stimm- und Verfügungsrechte besitzt.

Die Gruppe investierte rund 53,6 Millionen US-Dollar, um die Position aufzubauen, und gab kürzliche Käufe am offenen Markt bekannt: 63.900 Aktien am 24.-25. Juni 2025 zu 4,48-4,50 US-Dollar und 542.600 Aktien am 29. Juli 2025 zu 4,36-4,48 US-Dollar. Die Käufe wurden mit persönlichen Mitteln/Betriebskapital finanziert und könnten über RBC Capital Markets und Interactive Brokers auf Margin getätigt worden sein.

Absicht: Investitionszwecke. Obwohl keine konkreten Pläne bekannt gegeben wurden, lässt die Meldung weitere Käufe, Verkäufe, Absicherungen oder eine Beteiligung am Vorstand von RC offen, einschließlich möglicher Vorschläge zu Strategie, Kapitalstruktur oder Unternehmensführung.

Es liegen keine straf- oder zivilrechtlichen Verfahren gegen die Melder vor, und es existieren keine Verträge außer einer gemeinsamen Einreichungsvereinbarung.

Positive
  • 5.3 % ownership stake signals significant commitment and potential influence on Ready Capital’s strategic direction.
  • $53.6 M of capital deployed with continued buying at ~$4.4-4.5 indicates valuation confidence by the investor group.
Negative
  • Use of margin accounts introduces leverage risk if RC’s share price declines.

Insights

TL;DR: 5.3 % stake shows confidence but no stated activism; neutral-to-positive signal.

The Amster group’s $53.6 M purchase at ~$4.4 per share indicates a value view on RC, equating to ~0.6 × Q1�25 book. Although 5 % is below a blocking position, it is large enough to gain management’s attention and open dialogue on capital allocation or strategy. Lack of concrete activist agenda tempers impact; however, continued accumulation suggests upside conviction. Financing via margin adds moderate leverage risk but also underscores liquidity comfort.

TL;DR: New 13D filer could become catalyst if engagement escalates.

Filing language reserves broad rights—from board discussions to strategic proposals—mirroring standard activist boilerplate. The diverse web of entities gives Amster flexibility to add or unwind positions without further group formation. While no immediate governance changes are sought, history shows 5 % holders can influence REITs via letter campaigns or slate nominations. Investors should monitor subsequent 13D amendments for ownership changes or public letters.

Howard Amster e 22 entità affiliate hanno presentato un Schedule 13D dichiarando la proprietà di 8.976.200 azioni Ready Capital (RC), pari al 5,3% delle 170,5 milioni di azioni in circolazione al 8 maggio 2025. Amster detiene direttamente 2,31 milioni di azioni, mentre il resto è distribuito tra partnership, trust, fondazioni e società in cui detiene il potere di voto/dispositivo in modo esclusivo o condiviso.

Il gruppo ha investito circa 53,6 milioni di dollari per acquisire la posizione e ha comunicato acquisti recenti sul mercato aperto: 63.900 azioni il 24-25 giugno 2025 a 4,48-4,50 dollari e 542.600 azioni il 29 luglio 2025 a 4,36-4,48 dollari. Gli acquisti sono stati finanziati con fondi personali/capitale operativo e potrebbero essere stati effettuati con margine tramite RBC Capital Markets e Interactive Brokers.

Intento: finalità di investimento. Sebbene non siano stati annunciati piani specifici, la comunicazione lascia aperta la possibilità di ulteriori acquisti, vendite, coperture o coinvolgimento con il consiglio di amministrazione di RC, comprese eventuali proposte su strategia, struttura del capitale o governance.

Non sono in corso procedimenti penali o civili che coinvolgano i dichiarante, e non esistono contratti diversi dall’accordo di presentazione congiunta.

Howard Amster y 22 entidades afiliadas presentaron un Schedule 13D reportando la propiedad de 8.976.200 acciones de Ready Capital (RC), equivalentes al 5,3 % de las 170,5 millones de acciones en circulación al 8 de mayo de 2025. Amster posee 2,31 millones de acciones directamente, mientras que el resto está distribuido entre sociedades, fideicomisos, fundaciones y corporaciones donde tiene poder de voto/dispositivo exclusivo o compartido.

El grupo invirtió aproximadamente 53,6 millones de dólares para establecer la posición y divulgó compras recientes en el mercado abierto: 63.900 acciones los días 24-25 de junio de 2025 a 4,48-4,50 dólares y 542.600 acciones el 29 de julio de 2025 a 4,36-4,48 dólares. Las compras fueron financiadas con fondos personales/capital de trabajo y podrían haberse realizado con margen a través de RBC Capital Markets e Interactive Brokers.

±õ²Ô³Ù±ð²Ô³¦¾±Ã³²Ô: fines de inversión. Aunque no se anunciaron planes específicos, la presentación deja abierta la posibilidad de seguir comprando, vendiendo, cubriendo o involucrándose con la junta directiva de RC, incluyendo posibles propuestas sobre estrategia, estructura de capital o gobernanza.

No hay procedimientos penales o civiles que involucren a los presentantes, y no existen contratos aparte de un acuerdo de presentación conjunta.

하워ë“� 암스터와 22ê°� ê´€ë � 법ì¸ì� 2025ë…� 5ì›� 8ì� 기준 ì´� 1ì–� 7,050ë§� ì£� ì¤� 5.3%ì—� 해당하는 8,976,200 Ready Capital(RC) 주ì‹ì� 소유ë¥� 보고하는 Schedule 13Dë¥� 제출했습니다. 암스터는 ì§ì ‘ 231ë§� 주를 보유하고 있으ë©�, 나머지ëŠ� 그가 ë‹¨ë… ë˜ëŠ” ê³µë™ ì˜ê²°ê¶�/ì²˜ë¶„ê¶Œì„ ê°€ì§� 파트너십, ì‹ íƒ, 재단 ë°� 법ì¸ì—� ë¶„ì‚°ë˜ì–´ 있습니다.

ì� ê·¸ë£¹ì€ ì•� 5,360ë§� 달러ë¥� 투ìží•˜ì—¬ 해당 ì§€ë¶„ì„ í™•ë³´í–ˆìœ¼ë©�, 최근 공개 시장ì—서ì� 매입 ë‚´ì—­ë� 공개했습니다: 2025ë…� 6ì›� 24-25ì¼ì— 63,900주를 4.48-4.50달러ì—�, 7ì›� 29ì¼ì— 542,600주를 4.36-4.48달러ì—� 매입했습니다. 매입 ìžê¸ˆì€ ê°œì¸ ìžê¸ˆ/ìš´ì˜ ìžë³¸ìœ¼ë¡œ 조달ë˜ì—ˆìœ¼ë©°, RBC Capital Markets와 Interactive Brokersë¥� 통한 마진 거래가 있었ì� ìˆ� 있습니다.

목ì : íˆ¬ìž ëª©ì . 구체ì ì¸ 계íšì€ 발표ë˜ì§€ 않았으나, 제출서는 추가 매수, 매ë„, 헤지 ë˜ëŠ” RC ì´ì‚¬íšŒì™€ì� êµë¥˜ 가능성ì� ì—´ì–´ë‘ê³  있으ë©�, ì „ëžµ, ìžë³¸ 구조 ë˜ëŠ” 거버넌스ì—� ê´€í•� 제안ë� í¬í•¨ë� ìˆ� 있습니다.

제출ìžë“¤ê³� ê´€ë ¨ëœ í˜•ì‚¬ ë˜ëŠ” 민사 ì†Œì†¡ì€ ì—†ìœ¼ë©�, ê³µë™ ì œì¶œ 계약 ì™¸ì— ë‹¤ë¥¸ 계약ë� 존재하지 않습니다.

Howard Amster et 22 entités affiliées ont déposé un Schedule 13D déclarant la propriété de 8 976 200 actions Ready Capital (RC), soit 5,3 % des 170,5 millions d’actions en circulation au 8 mai 2025. Amster détient directement 2,31 millions d’actions, tandis que le solde est réparti entre des partenariats, des trusts, des fondations et des sociétés où il exerce un pouvoir de vote/disposition exclusif ou partagé.

Le groupe a investi environ 53,6 millions de dollars pour établir cette position et a révélé des achats récents sur le marché libre : 63 900 actions les 24-25 juin 2025 à 4,48-4,50 dollars et 542 600 actions le 29 juillet 2025 à 4,36-4,48 dollars. Ces achats ont été financés par des fonds personnels/capitaux de travail et peuvent avoir été effectués avec effet de levier via RBC Capital Markets et Interactive Brokers.

Intention : fins d’investissement. Bien qu’aucun plan spécifique n’ait été annoncé, le dépôt laisse la porte ouverte à d’autres achats, ventes, couvertures ou engagements avec le conseil d’administration de RC, y compris d’éventuelles propositions concernant la stratégie, la structure du capital ou la gouvernance.

Aucune procédure pénale ou civile n’implique les déposants, et aucun contrat autre qu’un accord de dépôt conjoint n’existe.

Howard Amster und 22 verbundene Einheiten reichten ein Schedule 13D ein, in dem sie den Besitz von 8.976.200 Ready Capital (RC) Aktien meldeten, was 5,3 % der 170,5 Mio. ausstehenden Aktien zum 8. Mai 2025 entspricht. Amster hält 2,31 Mio. Aktien direkt, während der Rest auf Partnerschaften, Treuhandfonds, Stiftungen und Gesellschaften verteilt ist, bei denen er alleinige oder gemeinsame Stimm- und Verfügungsrechte besitzt.

Die Gruppe investierte rund 53,6 Millionen US-Dollar, um die Position aufzubauen, und gab kürzliche Käufe am offenen Markt bekannt: 63.900 Aktien am 24.-25. Juni 2025 zu 4,48-4,50 US-Dollar und 542.600 Aktien am 29. Juli 2025 zu 4,36-4,48 US-Dollar. Die Käufe wurden mit persönlichen Mitteln/Betriebskapital finanziert und könnten über RBC Capital Markets und Interactive Brokers auf Margin getätigt worden sein.

Absicht: Investitionszwecke. Obwohl keine konkreten Pläne bekannt gegeben wurden, lässt die Meldung weitere Käufe, Verkäufe, Absicherungen oder eine Beteiligung am Vorstand von RC offen, einschließlich möglicher Vorschläge zu Strategie, Kapitalstruktur oder Unternehmensführung.

Es liegen keine straf- oder zivilrechtlichen Verfahren gegen die Melder vor, und es existieren keine Verträge außer einer gemeinsamen Einreichungsvereinbarung.






If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).






SCHEDULE 13D




Comment for Type of Reporting Person:
*Mr. Amster is deemed to be the beneficial owner of (i) 2,312,959 shares that are owned directly by Mr. Amster; (ii) 3,608,253 shares that are owned in the aggregate by Pleasant Lake Apartments Corp., Pleasant Lake Apartments Limited Partnership, and Laughlin Holdings, LLC, all joint filers, over which Mr. Amster has sole voting and dispositive power; (iii) 1,156,311 shares that are owned in the aggregate by the trusts jointly filing herewith, over which, as sole trustee, Mr. Amster has sole voting and dispositive power; (iv) the 497,971 shares that are owned by the Howard Amster Foundation over which, Mr. Amster, as President, has sole voting and dispositive power; (v) 457,812 shares that are owned by Amster Limited Partnership, which Mr. Amster, as sole General Partner, has sole voting and dispositive power; (vi) 323,040 shares that are owned by Ramat Securities, Ltd., which Mr. Amster, as authorized representative and majority member, has sole voting and dipositive power; (vii) 11,155 shares that are owned by NewAx Inc., which Mr. Amster, as a member of the Board of Directors and majority shareholder, has shared voting and dispositive power; (viii) 494,113 shares owned by Pleasant Lake Skoien Investments LLC, which Mr. Amster, as President of Pleasant Lake Apartments Corp., the General Partner of Pleasant Lake Apartments LP, the Managing Member of Pleasant Lake Apartments LLC which is the Managing Member of Pleasant Lake Skoien Investments LLC, has shared voting and dispositive power and (ix) 114,586 shares owned by Horizon Group Properties Inc., which Mr. Amster, as the majority owner has shared voting and dispositive power. **Denominator is based on the 170,507,227 shares of common stock outstanding as of May 8, 2025 as reported by the Issuer on Form 10-Q for the period ending March 31, 2025, as filed with the Securities and Exchange Commission on May 9, 2025.


SCHEDULE 13D




Comment for Type of Reporting Person:
* See the footnote marked with a * to cover page for Mr. Amster. ** See the footnote marked with a ** to cover page for Mr. Amster


SCHEDULE 13D




Comment for Type of Reporting Person:
* See the footnote marked with a * to cover page for Mr. Amster. ** See the footnote marked with a ** to cover page for Mr. Amster


SCHEDULE 13D




Comment for Type of Reporting Person:
* See the footnote marked with a * to cover page for Mr. Amster. ** See the footnote marked with a ** to cover page for Mr. Amster


SCHEDULE 13D




Comment for Type of Reporting Person:
* See the footnote marked with a * to cover page for Mr. Amster. ** See the footnote marked with a ** to cover page for Mr. Amster


SCHEDULE 13D




Comment for Type of Reporting Person:
* See the footnote marked with a * to cover page for Mr. Amster. ** See the footnote marked with a ** to cover page for Mr. Amster


SCHEDULE 13D




Comment for Type of Reporting Person:
* See the footnote marked with a * to cover page for Mr. Amster. ** See the footnote marked with a ** to cover page for Mr. Amster


SCHEDULE 13D




Comment for Type of Reporting Person:
* See the footnote marked with a * to cover page for Mr. Amster. ** See the footnote marked with a ** to cover page for Mr. Amster


SCHEDULE 13D




Comment for Type of Reporting Person:
* See the footnote marked with a * to cover page for Mr. Amster. ** See the footnote marked with a ** to cover page for Mr. Amster


SCHEDULE 13D




Comment for Type of Reporting Person:
* See the footnote marked with a * to cover page for Mr. Amster. ** See the footnote marked with a ** to cover page for Mr. Amster


SCHEDULE 13D




Comment for Type of Reporting Person:
* See the footnote marked with a * to cover page for Mr. Amster. ** See the footnote marked with a ** to cover page for Mr. Amster


SCHEDULE 13D




Comment for Type of Reporting Person:
* See the footnote marked with a * to cover page for Mr. Amster. ** See the footnote marked with a ** to cover page for Mr. Amster


SCHEDULE 13D




Comment for Type of Reporting Person:
* See the footnote marked with a * to cover page for Mr. Amster. ** See the footnote marked with a ** to cover page for Mr. Amster


SCHEDULE 13D




Comment for Type of Reporting Person:
* See the footnote marked with a * to cover page for Mr. Amster. ** See the footnote marked with a ** to cover page for Mr. Amster


SCHEDULE 13D




Comment for Type of Reporting Person:
* See the footnote marked with a * to cover page for Mr. Amster. ** See the footnote marked with a ** to cover page for Mr. Amster


SCHEDULE 13D




Comment for Type of Reporting Person:
* See the footnote marked with a * to cover page for Mr. Amster. ** See the footnote marked with a ** to cover page for Mr. Amster


SCHEDULE 13D




Comment for Type of Reporting Person:
* See the footnote marked with a * to cover page for Mr. Amster. ** See the footnote marked with a ** to cover page for Mr. Amster


SCHEDULE 13D




Comment for Type of Reporting Person:
* See the footnote marked with a * to cover page for Mr. Amster. ** See the footnote marked with a ** to cover page for Mr. Amster


SCHEDULE 13D




Comment for Type of Reporting Person:
* See the footnote marked with a * to cover page for Mr. Amster. ** See the footnote marked with a ** to cover page for Mr. Amster


SCHEDULE 13D




Comment for Type of Reporting Person:
* See the footnote marked with a * to cover page for Mr. Amster. ** See the footnote marked with a ** to cover page for Mr. Amster


SCHEDULE 13D




Comment for Type of Reporting Person:
* See the footnote marked with a * to cover page for Mr. Amster. ** See the footnote marked with a ** to cover page for Mr. Amster


SCHEDULE 13D




Comment for Type of Reporting Person:
* See the footnote marked with a * to cover page for Mr. Amster. ** See the footnote marked with a ** to cover page for Mr. Amster


SCHEDULE 13D




Comment for Type of Reporting Person:
* See the footnote marked with a * to cover page for Mr. Amster. ** See the footnote marked with a ** to cover page for Mr. Amster


SCHEDULE 13D


Amster Howard
Signature:HOWARD AMSTER
Name/Title:HOWARD AMSTER
Date:08/05/2025
PLEASANT LAKE APARTMENTS LIMITED PARTNERSHIP
Signature:HOWARD AMSTER
Name/Title:PRESIDENT PLEASANT LAKE APARTMENTS CORP ITS GENERAL PARTNER
Date:08/05/2025
HOWARD AMSTER 2019 CHARITABLE REMAINDER UNITRUST 1 U/A DTD 05/20/2019
Signature:HOWARD AMSTER
Name/Title:TRUSTEE
Date:08/05/2025
HOWARD AMSTER 2019 CHARITABLE REMAINDER UNITRUST #2 U/A DTD 05/20/2019
Signature:HOWARD AMSTER
Name/Title:TRUSTEE
Date:08/06/2025
HOWARD AMSTER 2019 CHARITABLE REMAINDER UNITRUST #3 U/A DTD 05/20/2019
Signature:HOWARD AMSTER
Name/Title:TRUSTEE
Date:08/05/2025
HOWARD AMSTER 2019 CHARITABLE REMAINDER UNITRUST #4 U/A DTD 05/20/2019
Signature:HOWARD AMSTER
Name/Title:TRUSTEE
Date:08/05/2025
AMSTER LIMITED PARTNERSHIP
Signature:HOWARD AMSTER
Name/Title:GENERAL PARTNER
Date:08/05/2025
HOWARD AMSTER 2019 CHARITABLE REMAINDER UNITRUST #7 U/A DTD 05/20/2019
Signature:HOWARD AMSTER
Name/Title:TRUSTEE
Date:08/05/2025
LAUGHLIN HOLDINGS LLC
Signature:HOWARD AMSTER
Name/Title:PRESIDENT PLEASANT LAKE APARTMENTS CORP GENERAL PARTNER PLEASANT LAKE APARTMENTS LIMITED PARTERSHIP MANAGING MEMBER
Date:08/05/2025
RAMAT SECURITIES LTD
Signature:HOWARD AMSTER
Name/Title:MEMBER
Date:08/06/2025
HOWARD AMSTER 2021 CHARITABLE REMAINDER UNITRUST #3 U/A DTD 11/23/2021
Signature:HOWARD AMSTER
Name/Title:TRUSTEE
Date:08/05/2025
PLEASANT LAKE APARTMENTS CORP.
Signature:HOWARD AMSTER
Name/Title:PRESIDENT
Date:08/05/2025
HOWARD AMSTER 2022 CHARITABLE REMAINDER UNITRUST #1 U/A DTD 03/09/2022
Signature:HOWARD AMSTER
Name/Title:TRUSTEE
Date:08/05/2025
HOWARD AMSTER FOUNDATION
Signature:HOWARD AMSTER
Name/Title:PRESIDENT
Date:08/05/2025
NEWAX INC.
Signature:HOWARD AMSTER
Name/Title:DIRECTOR
Date:08/05/2025
PLEASANT LAKE SKOIEN INVESTMENTS LLC
Signature:HOWARD AMSTER
Name/Title:PRESIDENT PLEASANT LAKE CORP GENERAL PARTNER PLEASANT LAKE APARTMENTS LIMITED PARTERSHIP MANAGING MEMBER
Date:08/05/2025
HOWARD AMSTER 2019 CHARITABLE REMAINDER UNITRUST #5 U/A DTD 05/20/2019
Signature:HOWARD AMSTER
Name/Title:TRUSTEE
Date:08/05/2025
HOWARD AMSTER 2021 CHARITABLE REMAINDER UNITRUST #1 U/A DTD 08/10/2021
Signature:HOWARD AMSTER
Name/Title:TRUSTEE
Date:08/05/2025
HOWARD AMSTER 2021 CHARITABLE REMAINDER UNITRUST #2 U/A DTD 08/10/2021
Signature:HOWARD AMSTER
Name/Title:TRUSTEE
Date:08/05/2025
HOWARD AMSTER & TAMRA GOULD CHARITABLE REMAINDER UNITRUST U/A DTD 03/18/1993
Signature:HOWARD AMSTER
Name/Title:TRUSTEE
Date:08/05/2025
HOWARD AMSTER CHARITABLE REMAINDER UNITRUST U/A DTD 04/22/1998
Signature:HOWARD AMSTER
Name/Title:TRUSTEE
Date:08/05/2025
HOWARD AMSTER CHARITABLE REMAINDER UNITRUST U/A DTD 01/11/2005
Signature:HOWARD AMSTER
Name/Title:TRUSTEE
Date:08/05/2025
HORIZON GROUP PROPERTIES INC.
Signature:HOWARD AMSTER
Name/Title:DIRECTOR
Date:08/05/2025

FAQ

How many Ready Capital (RC) shares does Howard Amster now own?

The group reports 8,976,200 shares, representing 5.3 % of RC’s common stock.

What price did the Amster group pay for recent RC purchases?

Open-market buys on 24-25 Jun were at $4.48-4.50; on 29 Jul at $4.36-4.48 per share.

How much capital has been invested in RC according to the 13D filing?

Approximately $53.63 million has been invested to acquire the disclosed position.

Does the filing indicate activist intentions toward RC?

No explicit plans are stated, but the group reserves the right to engage management, propose strategic changes, buy more or sell shares.

What percentage of RC’s shares outstanding does 8.98 M shares represent?

It represents 5.3 % of the 170,507,227 shares outstanding as of 8 May 2025.

Are there any legal proceedings involving the reporting persons?

The filing states no criminal or civil proceedings involving the reporting persons in the past five years.
Ready Capital Corp

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