New York Mortgage Trust prices public offering of common stock
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03 Apr 2014
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New York Mortgage Trust, Inc. announced that it priced an underwritten public offering of 13,000,000 shares of its common stock at a public offering price of USD 7.59 per share. NYMT also granted the underwriters an option to purchase up to an additional 1,950,000 shares of common stock. The offering is expected to close on April 7, 2014, subject to customary closing conditions. UBS Securities LLC, Credit Suisse Securities (USA) LLC, Barclays Capital Inc. and RBC Capital Markets, LLC are acting as joint bookrunning managers for the offering. Keefe, Bruyette & Woods, Inc. and JMP Securities LLC are acting as co-lead managers for the offering. Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc., and Maxim Group LLC are acting as co-managers for the offering. NYMT intends to use a majority of the net proceeds of this offering to acquire distressed residential loans and the remainder of the net proceeds to invest in mezzanine loans to and preferred equity investments in owners of multi-family properties and certain of its other targeted assets. The Company may also use a portion of the net proceeds for general working capital purposes, including the repayment of indebtedness. |
| Source: Dion Global Type: IPO Related |
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