New York Mortgage Trust Announces Redemption of 7.875% Series C Cumulative Redeemable Preferred Stock
June 30 2021 - 4:05PM
New York Mortgage Trust, Inc. (Nasdaq: NYMT) (the “Company”)
announced today that it intends to redeem all 4,181,807 of the
outstanding shares of the Company’s 7.875% Series C Cumulative
Redeemable Preferred Stock, par value $0.01 per share (the “Series
C Preferred Stock”), on July 30, 2021 (the “Redemption Date”).
Shares of the Series C Preferred Stock are currently listed on the
Nasdaq Global Select Market under the symbol “NYMTO.”
All outstanding shares of Series C Preferred Stock will be
redeemed at a cash redemption price of $25.00 per share, plus
any accrued and unpaid dividends (whether or not declared)
from July 15, 2021 up to, but not including, the
Redemption Date (the “Redemption Price”). Dividends on the shares
of Series C Preferred Stock will cease to accrue on the Redemption
Date. Upon redemption, the shares of Series C Preferred Stock will
no longer be deemed outstanding and all rights with respect to the
shares of Series C Preferred Stock will cease and terminate, except
only the right of the holders thereof to receive the Redemption
Price, without interest, from the redemption and payment agent.
All issued and outstanding shares of Series C Preferred Stock
are held in book-entry form through the Depository Trust Company
(“DTC”). The shares of Series C Preferred Stock will be redeemed in
accordance with the procedures of DTC. Payment to DTC for the
shares of Series C Preferred Stock will be made by American Stock
Transfer & Trust Company, LLC, which is serving as redemption
and payment agent (the “Redemption Agent”). The Redemption
Agent’s address is as follows:
American Stock Transfer & Trust Company, LLC6201 15th Avenue
Brooklyn, New York 11219
This press release does not constitute a notice of redemption
under the Company’s Articles Supplementary governing the shares of
Series C Preferred Stock.
About New York Mortgage Trust
New York Mortgage Trust, Inc. is a Maryland corporation that has
elected to be taxed as a real estate investment trust (“REIT”) for
federal income tax purposes. NYMT is an internally managed REIT in
the business of acquiring, investing in, financing and managing
primarily mortgage-related and single-family and multi-family
residential assets.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements involve
numerous risks and uncertainties. The Company’s actual results may
differ from its beliefs, expectations, estimates, and projections
and, consequently, you should not rely on these forward-looking
statements as predictions of future events. Forward-looking
statements are not historical in nature and can be identified by
words such as "anticipate," "estimate," "will," "should," "expect,"
"believe," "intend," "seek," "plan" and similar expressions or
their negative forms, or by references to strategy, plans, or
intentions. No assurance can be given that the offering discussed
above will be completed on the terms described or at all, or that
the net proceeds of the offering will be used as indicated.
Completion of the offering on the terms described, and the
application of the net proceeds of the offering, are subject to
numerous possible events, factors and conditions, many of which are
beyond the control of the Company and not all of which are known to
it. These forward-looking statements are subject to risks and
uncertainties, including, among other things, those described in
the Company's Annual Report on Form 10-K for the year ended
December 31, 2020 under “Item 1A. Risk Factors.” Other risks,
uncertainties, and factors that could cause actual results to
differ materially from those projected may be described from time
to time in reports the Company files with the Securities and
Exchange Commission, including reports on Forms 10-Q and 8-K. The
Company undertakes no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events, or otherwise.
For Further Information
Kristine Nario-Eng Chief Financial Officer Phone:
212-792-0107Email: InvestorRelations@nymtrust.com
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