Anworth Mortgage Asset Corporation
Anworth Mortgage Asset — Merger or Acquisition (December 2020)
8 slides from Anworth Mortgage Asset's merger presentation, Dec 7, 2020
Slide 1: Ready Capital Corporation to acquire Anworth Mortgage Asset Corporation
Ready Capital Corporation to acquire Anworth Mortgage Asset Corporation December 7, 2020
Slide 2: Disclaimer
DISCLAIMER These materials and any presentation of which they form a part are neither an offer to sell, nor a solicitation of an offer to purchase, an interest in Ready Capital Corporation (“Ready Capital,” “RC,” or the “Company”). Neither the Company nor any of its representatives or affiliates mak
Slide 3: Transaction Summary
TRANSACTION SUMMARY 3 Based on ANH’s 12/4/2020 closing stock price of $2.35
Slide 4: Enhanced Scale & Market Presence
ENHANCED SCALE & MARKET PRESENCE $1 billion+ combined equity base allows for greater market presence and further optimization of funding sources Access to incremental capital will enhance Ready Capital’s diversified investment strategy Augment market positioning, enhance access to funding alternativ
Slide 5: Meaningful Premium with Significant Upside Potential
MEANINGFUL PREMIUM WITH SIGNIFICANT UPSIDE POTENTIAL Premium of 25.1% to Anworth’s stock price of $2.35 as of close on December 4, 2020 Significant stock consideration provides potential long-term upside to Anworth stockholders STABLE OPERATING PERFORMANCE AND FINANCIAL POSITION Stable book value an
Slide 6: Pro Forma Entity Highlights
Pro Forma Entity HighlightsPro Forma Equity Base1 Significant capital base to fund cycle-proven, diversified investment strategy Strong balance sheet and abundant liquidity coupled with financial return outperformance relative to the broader industry Proven manager with extensive expertise and a tra
Slide 7: Waterfall Asset Management overview
► Waterfall consists of a dedicated team of 64 investment professionals who have extensive experience in small balance commercial (SBC) distressed asset acquisition, loan origination, asset management and capital markets. Loan 27%RC 10% Permanent Capital Key Management Total AUM*PE $8.3B1% ABS 62% T
Slide 8: 85. CAPITAL
85. CAPITAL RC
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