New York Mortgage Trust Offers 4.5M Shares Of Public Stock

Posted by Orb Staff on July 13, 2012 No Comments
Categories : Commercial Mortgage

11977_dollar_circle_bw New York Mortgage Trust Offers 4.5M Shares Of Public Stock New York Mortgage Trust Inc. (NYMT) has priced an underwritten registered public offering of 4.5 million shares of common stock at a public offering price of $6.70 per share. NYMT also granted the underwriters an option to purchase up to an additional 675,000 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.

The offering is subject to customary closing conditions and is expected to close on July 17. Ladenburg Thalmann & Co Inc. is serving as sole book-running manager for the offering. Aegis Capital Corp., Maxim Group LLC and National Securities Corp. are serving as co-managers.

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