New York Mortgage Trust Announces Public Offering of Series G Cumulative Redeemable Preferred Stock
November 17 2021 - 9:51AM
New York Mortgage Trust, Inc. (Nasdaq: NYMT) (the “Company”)
announced today the launch of a public offering of its
Series G Cumulative Redeemable Preferred Stock (the “Series G
Preferred Stock”). The Company intends to list the Series G
Preferred Stock on the Nasdaq Global Select Market under the symbol
“NYMTZ.” The Company intends to grant the underwriters an option
for 30 days to purchase additional shares of the Series G Preferred
Stock to cover over-allotments, if any.
Morgan Stanley, J.P. Morgan, UBS Investment Bank, Wells Fargo
Securities and Keefe, Bruyette & Woods, A Stifel Company are
acting as joint book-running managers for the offering.
The Company intends to use the net proceeds of the offering to
fund the redemption of up to all of the outstanding shares of its
7.75% Series B Cumulative Redeemable Preferred Stock, $0.01 par
value per share (the “Series B Preferred Stock”). In addition, the
Company intends to use the remainder of the net proceeds from the
offering for general business purposes, which may include, among
other things, acquiring its targeted assets, including both
single-family and multi-family residential assets, and various
other types of mortgage-, residential housing- and credit-related
assets that it may target from time to time. This press release
does not constitute a notice of redemption of the Series B
Preferred Stock or any other existing series of the Company’s
preferred stock.
The offering will be made pursuant to the Company’s existing
shelf registration statement, which automatically became effective
upon filing with the Securities and Exchange Commission (the “SEC”)
on August 6, 2021. The offering of these securities will be made
only by means of a prospectus and a related prospectus supplement,
which will be filed with the SEC. Copies of the prospectus and
prospectus supplement related to this offering may be obtained,
when available, from Morgan Stanley & Co. LLC, 180 Varick
Street, New York, NY 10014, Attention: Prospectus Department, J.P.
Morgan Securities LLC, 383 Madison Ave, New York, NY 10179,
Attention: Investment Grade Desk Syndicate, or by calling
212-834-4533, UBS Securities LLC, 1285 Avenue of the Americas, New
York, NY 10019, Attention: Prospectus Department, or by calling
888-827-7275, Wells Fargo Securities, LLC, 608 2nd Avenue South,
Suite 1000, Minneapolis, MN 55402, Attention: WFS Customer Service,
or by calling 1-800-645-3751 and Keefe, Bruyette & Woods, A
Stifel Company, 787 Seventh Avenue, Fourth Floor, New York, NY
10019, or by calling 1-800-966-1559.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy shares of Series G Preferred Stock
or any other securities, nor shall there be any sale of such shares
or any 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 such
state or other jurisdiction.
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
CONTACT: AT THE COMPANYPhone: 212-792-0107Email:
InvestorRelations@nymtrust.com
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