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New York Mortgage Trust Inc Announces Pricing Of Public Offering Of Common Stock

Tuesday, 30 Apr 2013 08:45am EDT 

New York Mortgage Trust Inc (NYMT) announced that it has priced a public offering of 13,600,000 shares of common stock for total estimated gross proceeds of approximately $97.4 million. NYMT also granted the underwriters an option to purchase up to an additional 2,040,000 shares of common stock. The offering is subject to customary closing conditions and is expected to close on May 3, 2013. Deutsche Bank Securities and Credit Suisse are serving as joint book runners for the offering. JMP Securities LLC, Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc., and Maxim Group LLC are serving as co-managers. NYMT expects to initially use the net proceeds of this offering to acquire primarily Agency RMBS (including Agency interest only securities) and certain of other targeted assets. Over time, the Company expects to redeploy a portion of the net proceeds from this offering to acquire certain of other targeted assets. The Company may also use net proceeds for general working capital purposes, including the repayment of indebtedness. 

Company Quote

0.065 +0.83%
3:12pm EST