Waterfall Management Amends Ready Capital Stake

TL;DR

Waterfall Management updated their Ready Capital stake filing. Watch for changes.

AI Summary

Waterfall Management, LLC, along with Thomas Capasse and Jack Ross, filed an amendment (No. 6) to their Schedule 13D on April 17, 2024, regarding their holdings in Ready Capital Corporation. The filing indicates a change in their beneficial ownership, though specific new percentages or dollar amounts are not detailed in this excerpt.

Why It Matters

This filing signals a potential shift in control or strategy for Ready Capital Corporation, as a significant stakeholder has updated their disclosure.

Risk Assessment

Risk Level: medium — Amendments to Schedule 13D filings often precede significant corporate actions or changes in investor influence.

Key Players & Entities

• Waterfall Management, LLC (company) — Filing entity
• Thomas Capasse (person) — Filing entity member
• Jack Ross (person) — Filing entity member
• Ready Capital Corporation (company) — Subject company
• Sutherland Asset Management Corp (company) — Former company name of subject
• ZAIS Financial Corp. (company) — Former company name of subject
• Sutherland REIT Holdings, LP (company) — Filing entity

FAQ

Key Financial Figures

• $0.0001 — ame of Issuer) Common Stock, par value $0.0001 per share (Title of Class of Securiti

Filing Documents

• tm2412106d1_sc13da.htm (SC 13D/A) — 90KB
• 0001104659-24-048457.txt ( ) — 92KB

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer.

of Schedule 13D is hereby amended and restated

Item 5 of Schedule 13D is hereby amended and restated in its entirety as follows: (a) SRH beneficially owns 7,034,717 Shares, or approximately 4.1% of the outstanding Shares. The GP (a) owns 8,869 Shares directly and (b) as general partner of SRH, may be deemed to beneficially own the 7,034,717 Shares held by SRH, totaling an aggregate of 7,043,586 Shares, or approximately 4.1% of the outstanding Shares. The Manager (a) owns 285,636 Shares directly and (b) as investment adviser to SRH, may be deemed to beneficially own the 7,034,717 Shares held by SRH, totaling an aggregate of 7,320,353 Shares, or approximately 4.2% of the outstanding Shares. Mr. Capasse (a) owns 309,925 Shares directly, (b) as a member of the Manager (an investment adviser to SRH), may be deemed to beneficially own the 7,034,717 and 285,636 Shares held by SRH and the Manager, respectively, and (c) as a member of the GP, the general partner of SRH, may be deemed to beneficially own 8,869 Shares held directly by the GP, totaling an aggregate of 7,639,147 Shares, or approximately 4.4% of the outstanding Shares. Mr. Ross (a) owns 155,264 Shares directly, (b) may be deemed to beneficially own 155,264 Shares owned through the Robin J. Ross 2009 Trust (the “Trust”), but Mr. Ross does not serve as the trustee for the Trust and his wife is the trustee and sole beneficiary of the Trust and the trustee of the Trust has sole voting and investment power with respect to the securities held by the Trust, (c) as a member of the GP, the general partner of SRH, may be deemed to beneficially own 8,869 Shares held directly by the GP and (d) as a member of the Manager (an investment adviser to SRH), may be deemed to beneficially own the 7,034,717 and 285,636 Shares held by SRH and the Manager, respectively, totaling an aggregate of 7,639,750 Shares, or approximately 4.4% of the outstanding Shares. Because of the relationships described above, the Reporting Persons may be deemed to constitute a &ldqu

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of his knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: April 17, 2024 SUTHERLAND REIT HOLDINGS, LP By: Waterfall Management LLC Its: General Partner /s/ Thomas Capasse Thomas Capasse Member WATERFALL MANAGEMENT, LLC /s/ Thomas Capasse Thomas Capasse Member WATERFALL ASSET MANAGEMENT, LLC /s/ Thomas Capasse Thomas Capasse Member /s/ Thomas Capasse Thomas Capasse /s/ Jack Ross Jack Ross

View Full Filing

View this SC 13D/A filing on SEC EDGAR