Bookrunners UBS Securities, Barclays and Credit Suisse assist
By Devika Patel
Knoxville, Tenn., Jan. 7 - New York Mortgage Trust, Inc. said it priced a $68.1 million public sale of stock with a $10.22 million greenshoe. The deal was announced Monday.
The company will sell 10 million common shares at $6.81 apiece. The price per share is a 3.27% discount to the Jan. 6 closing share price of $7.04.
UBS Securities LLC, Barclays and Credit Suisse Securities (USA) LLC are the joint bookrunning managers.
Settlement is expected Jan. 10.
Proceeds will be used to acquire distressed residential loans and invest in multi-family commercial mortgage-backed securities, mezzanine loans and preferred equity investments, and for general working capital purposes, including debt repayment.
New York Mortgage is a New York-based real estate investment trust.
| Issuer: | New York Mortgage Trust, Inc.
|
| Issue: | Common stock
|
| Amount: | $68.1 million
|
| Greenshoe: | $10,215,000
|
| Shares: | 10 million
|
| Price: | $6.81
|
| Warrants: | No
|
| Bookrunners: | UBS Securities LLC, Barclays and Credit Suisse Securities (USA) LLC
|
| Co-lead managers: | Keefe, Bruyette & Woods, Inc. and RBC Capital Markets, LLC
|
| Co-managers: | JMP Securities LLC and Ladenburg Thalmann & Co. Inc.
|
| Announcement date: | Jan. 6
|
| Pricing date: | Jan. 7
|
| Settlement date: | Jan. 10
|
| Stock symbol: | Nasdaq: NYMT
|
| Stock price: | $7.04 at close Jan. 6
|
| Market capitalization: | $434.16 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.
