NEW YORK, Sept. 24, 2018 /PRNewswire/ -- Sutherland
Asset Management Corporation (NYSE: SLD) announced that, effective
12:01 a.m. Eastern Time on
September 26, 2018, it will change
its name to "Ready Capital Corporation".
"The Ready Capital brand represents part of our larger strategy
to improve shareholder value," said Tom
Capasse, Chief Executive Officer. "We believe, with this
rebrand, we have simplified our story, and now can prominently
feature our lending products and services for our clients."
"The rebranding initiative further signifies our commitment to
the sector," said Carole Mortensen,
Chief Operating Officer. "Our goal is to position the Ready Capital
brand as a proven leader in mortgage finance with the reputation of
possessing a flexible credit philosophy, yet strong investment
discipline. Simply stated, this is who we are."
In connection with the name change, effective on October 1, 2018, the Company's trading symbols on
the New York Stock Exchange will change from "SLD" to "RC" for
shares of the Company's common stock, and from "SLDA" to "RCA" for
the Company's 7.00% convertible senior notes due 2023, and from
"SLDD" to "RCP" for the Company's 6.50% senior notes due 2021.
Following the name change, the new CUSIP number for the Company's
common stock will be 75574U101, the new CUSIP number for the
Company's 7.00% convertible senior notes due 2023 will be
75574U200, and the new CUSIP number for the Company's 6.50% senior
notes due 2021 will be 75574U309.
About Sutherland Asset Management Corporation
Sutherland Asset Management Corporation (NYSE: SLD) is a REIT
that originates, acquires, finances, services and manages primarily
small balance commercial ("SBC") loans, U.S. Small Business
Administration loans under its Section 7(a) program, and
residential mortgage loans. The Company originates SBC loans
through its ReadyCap Lending subsidiaries and originates
residential mortgage loans through its GMFS subsidiary. The
Company is externally managed and advised by Waterfall Asset
Management, LLC.
Contact
Investor Relations
Sutherland Asset Management
212-257-4666
SutherlandIR@waterfallam.com
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SOURCE Sutherland Asset Management Corporation