Broadmark Realty Capital Announces Receipt of Letter From NYSE Regulation Regarding Low Selling Price of Its Warrants

Rhea-AI Summary

Broadmark Realty Capital Inc. (NYSE: BRMK) announced on January 5, 2023 that NYSE Regulation will begin delisting proceedings for its warrants due to low selling price levels, with immediate trading suspension. The Company’s common stock will remain traded on the New York Stock Exchange. Broadmark is a specialty real estate finance firm, offering loans in the range of $5 million to $75 million across various property types in the U.S., including multifamily and commercial real estate.

Positive

• Broadmark operates as an internally managed balance sheet lender, enhancing financial stability.
• The company continues to trade its common stock on NYSE, ensuring ongoing investor access.

Negative

• Delisting proceedings for warrants may reduce investor confidence.
• Trading suspension of warrants could limit liquidity for some investors.

SEATTLE--(BUSINESS WIRE)-- Broadmark Realty Capital Inc. (NYSE: BRMK) (the “Company”), an internally managed secured real estate finance company, today announced that on January 5, 2023 it had received a letter from NYSE Regulation indicating that NYSE Regulation has determined to commence proceedings to delist the Company’s warrants from the NYSE American exchange and that trading in the warrants has been suspended. Specifically, the letter stated that the warrants are no longer suitable for listing based on low selling price levels, pursuant to Section 1001 of the NYSE American Company Guide. The notification letter confirms that the Company’s common stock (ticker symbol BRMK) will continue to be traded on the New York Stock Exchange.P

About Broadmark Realty Capital

Broadmark Realty Capital Inc. (NYSE: BRMK) is a specialty real estate finance company, providing financing solutions generally in the $5 to $75 million range per transaction. The company provides smart, reliable, rapid solutions across the entire debt capital stack, including senior, subordinate, and participation investments with fixed and floating rate structures available. Broadmark invests in a variety of new construction and existing properties across all asset classes throughout the United States, including hotel, industrial, medical, mixed-use, office, retail, self-storage, warehouse, multifamily, senior living, student housing, condos, larger scaled single-family, townhome, and multiplex. It has the competitive advantage of being an internally managed balance sheet lender, and the company’s proactive approach delivers dedicated in-house underwriting, asset management, loan servicing, and draw administration.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230106005093/en/

Investor Relations

InvestorRelations@broadmark.com

206-623-7782

Source: Broadmark Realty Capital Inc.

FAQ

Why were Broadmark Realty Capital's warrants suspended from trading?

The warrants were suspended due to low selling price levels, leading to NYSE Regulation commencing delisting proceedings.

What is the ticker symbol for Broadmark Realty Capital?

The ticker symbol for Broadmark Realty Capital is BRMK.

Will Broadmark Realty Capital's common stock still be traded?

Yes, the common stock of Broadmark Realty Capital will continue to be traded on the New York Stock Exchange.

What range of financing does Broadmark Realty Capital provide?

Broadmark provides financing solutions generally in the range of $5 million to $75 million per transaction.