New York Mortgage Trust, Inc. Announces Pricing of Public Offering of Senior Notes
Summary
The Company has granted the underwriters a 30-day option to purchase up to an additional aggregate principal amount of the Notes to cover over-allotments. The offering is expected to close on , subject to the satisfaction of customary closing conditions.The Company has applied to list the Notes on the Nasdaq Global Select Market (Nasdaq) under the symbol NYMTI and, if the application is approved, expects trading in the Notes on Nasdaq to begin within 30 days after the Notes are first issued.The Company intends to use the net proceeds of the offering for general corporate purposes, which may include, among other things, acquiring the Companys targeted assets, including both single-family and multi-family residential assets, and various other types of mortgage-, residential housing- and credit-related assets that the Company may target from time to time and general working capital purposes.The Notes will be senior unsecured obligations of the Company and pay interest quarterly in cash on , , and of each year, commencing . NYMT is an internally managed REIT in the business of acquiring, investing in, financing and managing primarily mortgage-related single-family and multi-family residential assets.This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements are subject to risks and uncertainties, including, without limitation, market conditions and those described under the heading Risk Factors in the prospectus supplement relating to the offering and in the Companys Annual Report on Form 10-K for the year ended under Item 1A. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.