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New York Mortgage Trust Inc Announces Public Offering Of Common Stock

Monday, 29 Apr 2013 04:37pm EDT 

New York Mortgage Trust Inc (NYMT) announced that it plans to make a public offering of 13,600,000 shares of its common stock. NYMT also expects to grant the underwriters an option to purchase up to an additional 2,040,000 shares of common stock. Deutsche Bank Securities and Credit Suisse will serve as joint bookrunners for the offering. NYMT expects to initially use the net proceeds of this offering to acquire primarily Agency RMBS (including Agency interest only securities) and certain of its other targeted assets. Over time, the Company expects to redeploy a portion of the net proceeds from this offering to acquire certain of its other targeted assets. The Company may also use net proceeds for general working capital purposes, including the repayment of indebtedness. 

Company Quote

-0.05 -0.65%
2:57pm EDT