BRMK - Broadmark merger with Ready Capital approved by stockholders
2023-05-30 17:07:22 ET
Broadmark Realty Capital ( NYSE: BRMK ) shareholders have approved the company's previously announced merger deal with Ready Capital ( NYSE: RC ), the company said Tuesday.
In February, Ready ( RC ) agreed to purchase the commercial real estate finance company for around $787M in stock. The deal is expected to close on May 31. Since then, BRMK edged up 0.6% , while RC dipped 5.7% .
Ready ( RC ) also said after the closing bell that its stockholders have approved the issuance of the company's common stock in connection with the combination. Under terms of the deal, Broadmark ( BRMK ) shareholders will receive 0.47233 share of Ready Capital for each BRMK share held.
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Broadmark merger with Ready Capital approved by stockholders