ZAIS Financial (ZFC), Sutherland Asset Management Enter Merger Agreement
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ReadyCap Commercial, LLC (ReadyCap), a leading nonbank commercial real estate lender, today announced that its parent company, Sutherland Asset Management Corporation (SAMC), that the shareholder of SAMC have agreed to enter into a merger transaction with ZAIS Financial Corporation (NYSE: ZFC). ReadyCap, a subsidiary of SAMC, originates real estate mortgage loans. SAMC is a real estate investment trust, and is externally managed by Waterfall Asset Management. SAMC ReadyCap origination subsidiaries include: ReadyCap Commercial and Ready Cap Lending.
In addition to the vote by SAMC shareholders, ZFC stockholders voted in favor of the proposal to issue shares to Sutherland stockholders in connection with the merger transaction, along with the Sutherland stockholders vote in favor of the proposal to approve the previously announced merger of Sutherland with and into a wholly-owned subsidiary of ZFC.
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