New York Mortgage Trust Inc. completed its offering of $138.0 million of 6.25% senior convertible notes due Jan. 15, 2022.

The total includes the exercise of the underwriter's option to buy an additional $18.0 million of notes to cover overallotments. Nomura Securities was the offering underwriter.

New York Mortgage Trust expects to receive net proceeds of about $127.3 million from the offering, after deducting the underwriter's discounts and commissions and estimated offering expenses. The company will use the proceeds of the offering to acquire its targeted assets and for general working capital purposes, including repaying debt.