Ladenburg Thalmann assisted; $4.52 million greenshoe fully exercised
By Devika Patel
Knoxville, Tenn., July 17 - New York Mortgage Trust, Inc. settled a $34.67 million public sale of stock on July 17, according to an 8-K filed Tuesday with the Securities and Exchange Commission. The deal priced for $30.15 million with a $4.52 million greenshoe on July 12.
The company sold 5,175,000 common shares at $6.70 per share. Of the shares, 675,000 were part of the fully exercised greenshoe. The price per share is a 2.05% discount to the $6.84 closing price of the stock on July 11.
Ladenburg Thalmann & Co. Inc. was the bookrunning manager. Aegis Capital Corp., Maxim Group LLC and National Securities Corp. were the co-managers.
Proceeds will be used to acquire some of the company's targeted assets, including commercial mortgage-backed securities collateralized by multi-family loans and agency residential mortgage-backed securities. Proceeds also will be used for general working capital purposes, including the repayment of debt.
New York Mortgage is a New York-based real estate investment trust.
| Issuer: | New York Mortgage Trust, Inc.
|
| Issue: | Common stock
|
| Amount: | $34,672,500 (including $4,522,500 greenshoe)
|
| Shares: | 5,175,000
|
| Price: | $6.70
|
| Warrants: | No
|
| Bookrunner: | Ladenburg Thalmann & Co. Inc.
|
| Co-managers: | Aegis Capital Corp., Maxim Group LLC and National Securities Corp.
|
| Announcement date: | July 11
|
| Pricing date: | July 12
|
| Settlement date: | July 17
|
| Stock symbol: | Nasdaq: NYMT
|
| Stock price: | $6.84 at close July 11
|
| Market capitalization: | $96.89 million
|
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