New York Mortgage Trust Announces Public Offering of Series B Cumulative Redeemable Preferred Stock
New York Mortgage Trust, Inc. (Nasdaq: NYMT) (the "Company") today announced that it plans to make a public offering of shares of its Series B Cumulative Redeemable Preferred Stock (the "Series B Preferred Stock"). The Company has applied to list the Series B Preferred Stock on the Nasdaq Capital Market under the symbol "NYMTP."
Citigroup Global Markets Inc. and Keefe, Bruyette & Woods, Inc. are acting as joint book-running managers for the offering. Barclays Capital Inc., Credit Suisse Securities (USA) LLC and Deutsche Bank Securities Inc. are acting as joint-lead managers. JMP Securities LLC and MLV & Co. LLC are acting as co-managers.
The Company intends to use the net proceeds of the offering to acquire primarily distressed residential mortgage loans and commercial mortgage-related debt investments. The Company may also use a portion of the net proceeds for general working capital purposes, including the repayment of indebtedness.
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