NEW YORK, May 08, 2019 (GLOBE NEWSWIRE) — New York Mortgage Trust, Inc. (Nasdaq: NYMT) (“NYMT” or the “Company”) announced nowadays that it priced an underwritten public offering of 18,000,000 shares of its not unusual stock for gross proceeds of about $109.4 million. The underwriters may additionally offer the not unusual inventory sometimes to customers directly or through marketers, or through agents in brokerage transactions on The Nasdaq Global Select Market, or to dealers in negotiated transactions or in a mixture of such strategies of sale, at a set fee or costs, which can be changed, or at market costs prevailing at the time of sale, at charges associated with such winning market costs or at negotiated expenses. NYMT additionally granted the underwriters a 30-day choice to purchase up to a further 2,seven hundred,000 shares of common stock. The presenting is predicted to shut on May 13, 2019, subject to commonplace final situations. Morgan Stanley, Barclays, Credit Suisse, J.P. Morgan and UBS Investment Bank acted as joint bookrunning managers for the offering.
NYMT intends to apply the net proceeds of this presenting for widespread business functions, which may consist of, amongst different things, obtaining its centered property, consisting of both single-family residential and multi-circle of relatives credit score investments, and numerous other varieties of loan-related and home housing-related belongings that the Company may additionally goal sometimes and general operating capital functions.
The supplying became made pursuant to the Company’s existing shelf registration announcement, which mechanically have become effective upon filing with the Securities and Exchange Commission (the “SEC”) on August 9, 2018. The offering of these securities turned into made most effective by using a prospectus and a related prospectus complement, if you want to be filed with the SEC. Copies of the prospectus and prospectus complement related to this supplying may be acquired, while to be had, from Morgan Stanley & Co. LLC, Attention: Prospectus Department, one hundred eighty Varick Street, second Floor, New York, NY 10014.
This press release shall not represent an offer to promote or the solicitation of a suggestion to buy the shares or every other securities, nor shall there be any sale of such stocks or some other securities in any kingdom or other jurisdiction wherein such offer, solicitation or sale might be unlawful previous to registration or qualification beneath the securities legal guidelines of this type of state or different jurisdiction.
About New York Mortgage Trust
New York Mortgage Trust, Inc. Is a Maryland corporation that has elected to be taxed as a real property investment consider for federal earnings tax purposes (“REIT”). NYMT is an internally managed REIT inside the business of obtaining, investing in, financing and managing loan-associated and residential housing-related property and targets multi-family CMBS, direct financing to proprietors of multi-own family residences through preferred fairness and mezzanine mortgage investments, residential mortgage loans (along with distressed residential mortgage loans, non-QM loans, second mortgage loans and other residential loan loans), non-Agency RMBS, Agency RMBS and other loan-associated and residential housing-related investments.
Forward-Looking Statements
This press launch consists of ahead-looking statements in the that means of the secure harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve numerous dangers and uncertainties. The Company’s actual effects can also vary from the Company’s ideals, expectancies, estimates, and projections and, consequently, you ought to not depend upon those forward-looking statements as predictions of destiny occasions. Forward-looking statements aren’t ancient in nature and can be diagnosed by means of phrases including “anticipate,” “estimate,” “will,” “ought to,” “anticipate,” “trust,” “intend,” “are seeking,” “plan” and comparable expressions or their terrible bureaucracy, or by means of references to approach, plans, or intentions. Forward-looking statements are primarily based on the Company’s ideals, assumptions and expectations of the Company’s future overall performance, considering all data presently available to it. No warranty can be given that the offering mentioned above may be finished on the terms described or at all, or that the net proceeds of the providing might be used as indicated. Completion of the offering at the phrases defined, and the application of the net proceeds of the presenting, are concern to severa viable occasions, elements and conditions, a lot of which are past the manage of the Company and not all of that are recognized to it, inclusive of, without problem, marketplace situations and people described beneath the heading “Risk Factors” within the Company’s Annual Report on Form 10-K for the yr ended December 31, 2018 and as updated through those chance elements protected inside the Company’s subsequent filings underneath the Securities Exchange Act of 1934, as amended, which may be accessed on the SEC’s website at www.Sec.Gov. All forward-looking statements communicate best as of the date on which they are made. New dangers and uncertainties rise up through the years, and it isn’t always feasible to are expecting the ones events or how they may have an effect on the Company. The Company undertakes no obligation to replace or revise any forward-looking statements, whether as a result of new information, future activities, or otherwise, except as required by means of law.