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New York Mortgage Trust expects $150.5M net proceeds from common stock offering

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New York Mortgage Trust expects $150.5M net proceeds from common stock offering

New York Mortgage Trust Inc. estimates net proceeds of $150.5 million, after deduction of estimated offering expenses, related to its common stock offering.

The company is selling 25 million common shares at $6.03 per share, and it granted the underwriters an option to purchase up to an additional 3,750,000 shares at $6.03 per share.

The offering is expected to close Sept. 13.

Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, UBS Securities LLC, Barclays Capital Inc., BofA Securities Inc., Credit Suisse Securities (USA) LLC, Keefe Bruyette & Woods Inc., RBC Capital Markets LLC, Nomura Securities International Inc. and Raymond James & Associates Inc. are the underwriters for the offering.