Offering with $2.48 million greenshoe funds general working capital
By Devika Patel
Knoxville, Tenn., Dec. 1 - New York Mortgage Trust, Inc. said it priced a $16.56 million public offering of common stock. The deal was announced Wednesday and has a $2.48 million greenshoe.
The company will sell 2.4 million common shares at $6.90 apiece. The price per share is a 2.82% discount to the Nov. 30 closing share price of $7.10.
Ladenburg Thalmann & Co. Inc. is the bookrunning manager; Maxim Group LLC, National Securities Corp. and Aegis Capital Corp. are co-managers.
Settlement is expected Dec. 6.
Proceeds will be used to acquire target assets, including multi-family commercial mortgage-backed securities, and for general working capital.
New York Mortgage Trust is a New York-based real estate investment trust.
| Issuer: | New York Mortgage Trust, Inc.
|
| Issue: | Common shares
|
| Amount: | $16.56 million
|
| Greenshoe: | $2,484,000
|
| Shares: | 2.4 million
|
| Price: | $6.90
|
| Warrants: | No
|
| Bookrunner: | Ladenburg Thalmann & Co. Inc.
|
| Announcement date: | Nov. 30
|
| Pricing date: | Dec. 1
|
| Settlement date: | Dec. 6
|
| Stock symbol: | Nasdaq: NYMT
|
| Stock price: | $7.10 at close Nov. 30
|
| Market capitalization: | $76.23 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
