New York Mortgage details redemption of 7.75% series B preferreds

By William Gullotti

Buffalo, N.Y., Nov. 18 – New York Mortgage Trust, Inc. reported that it intends to redeem all 3,156,087 outstanding shares of its 7.75% series B cumulative redeemable preferred stock on Dec. 18, according to a press release on Thursday.

The shares, currently listed on the Nasdaq Global Select Market under the symbol “NYMTP,” will be redeemed at $25 per share plus any accrued and unpaid dividends from Oct. 15 up to, but not including, the redemption date.

Payment will be made on Dec. 20.

American Stock Transfer & Trust Co., LLC is serving as redemption and payment agent.

New York Mortgage is a New York-based real estate investment trust.

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