New York Mortgage Trust Begins Public Offering Of Common Stock

Posted by Orb Staff on May 25, 2012 No Comments
Categories : Residential Mortgage

11638_dollar_circle New York Mortgage Trust Begins Public Offering Of Common Stock New York Mortgage Trust Inc. (NYMT) has commenced an underwritten registered public offering of 4 million shares of common stock. NYMT also expects to grant the underwriters an option to purchase up to an additional 600,000 shares of common stock to cover over-allotments, if any.

NYMT expects to use the net proceeds of this offering to acquire certain of the company's targeted assets, including commercial mortgage-backed securities collateralized by multifamily loans and agency residential mortgage-backed securities. The company may also use net proceeds for general working capital purposes, including the repayment of indebtedness.

Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc., will serve as the book-running manager for the offering.

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