We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Broadmark Realty Capital Inc. (“Broadmark” or the “Company”) (NYSE: BRMK) in connection with its proposed merger with Ready Capital Corporation (“Ready Capital”) (NYSE:RC).  Under the terms of the merger agreement, each share of Broadmark common stock will be converted into 0.47233 shares of Ready Capital common stock, representing implied per-share consideration of $5.27 based on Ready Capital’s February 27, 2023 closing price of $11.16.  Upon completion of the transaction, Ready Capital’s shareholders will own 64% of the combined company, while Broadmark shareholders will only own 36% of the combined company.

Weiss Law is investigating whether (i) Broadmark’s board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the merger consideration adequately compensates Broadmark shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.