New York Mortgage Trust, Inc. Announces Pricing of Public Offering of Senior Notes
NEW YORK, June 30, 2025 (GLOBE NEWSWIRE) -- New York Mortgage Trust, Inc. (NASDAQ:NYMT) (the "Company") announced today the pricing of an underwritten public offering of $85 million aggregate principal amount of its 9.875% senior notes due 2030 (the "Notes"). The Company has granted the underwriters a 30-day option to purchase up to an additional $12.75 million aggregate principal amount of the Notes to cover over-allotments. The offering is expected to close on July 8, 2025, subject to the satisfaction of customary closing conditions.
The Company has applied to list the Notes on the Nasdaq Global Select Market ("Nasdaq") under the symbol "NYMTH" and, if the application is approved, expects trading in the Notes on Nasdaq to begin within 30 days after the Notes are first issued.
The Company intends to use the net proceeds of the offering for general corporate purposes, which may include, among other things, acquiring the Company's targeted assets and various other types of mortgage-, residential housing- and credit-related assets that the Company may target from time to time and general working capital purposes.
The Notes will be senior unsecured obligations of the Company and pay interest quarterly in cash on January 1, April 1, July 1 and October 1 of each year, commencing October 1, 2025. The Notes will mature on October 1, 2030, and may be redeemed, in whole or in part, at any time, or from time to time, at the Company's option on or after October 1, 2027.
Morgan Stanley & Co. LLC, Keefe, Bruyette & Woods, Inc., Piper Sandler & Co., RBC Capital Markets, LLC, UBS Investment Bank and Wells Fargo Securities, LLC acted as joint book-running managers of the offering.
The offering was made pursuant to the Company's existing shelf registration statement, which was declared effective by ...
