New York Mortgage Trust announces pricing of public offering of 1.5 million shares of common stock at US$7.50/share
Michelle Rivera
NEW YORK
,
June 28, 2011
(press release)
–
New York Mortgage Trust, Inc. (Nasdaq:NYMT - News) ("NYMT" or the "Company") announced today that it priced an underwritten registered public offering of 1,500,000 shares of common stock at a public offering price of $7.50 per share. NYMT also granted the underwriter an option to purchase up to an additional 225,000 shares of common stock to cover over-allotments, if any. Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE Amex:LTS), is serving as sole bookrunning manager of the offering.
NYMT expects to use the net proceeds of this offering to acquire certain of the Company's target assets, including commercial mortgage loans and commercial mortgage-backed securities and Agency RMBS. The Company may also use the net proceeds for general working capital purposes.
A registration statement related to the securities was declared effective by the Securities and Exchange Commission. Copies of the final prospectus supplement and accompanying prospectus (when available) may be obtained by contacting Ladenburg Thalmann & Co. Inc., 520 Madison Avenue, Ninth Floor, New York, NY 10022.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the offered shares or any other securities, nor shall there be any sale of such shares or other securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state or other jurisdiction.
About New York Mortgage Trust
New York Mortgage Trust, Inc. is a real estate investment trust ("REIT") in the business of acquiring, investing in, financing and managing primarily mortgage-related assets. As a REIT, the Company is not subject to federal income tax, provided that it distributes at least 90% of its REIT income to stockholders.
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