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New York Mortgage Trust to launch common stock offering

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New York Mortgage Trust to launch common stock offering

New York Mortgage Trust Inc. plans to conduct a public offering of 30 million common shares.

The New York-based company also expects to grant the underwriters an option to buy up to an additional 4.5 million common shares.

Net proceeds will be used for general business purposes, which may include acquiring the company's targeted assets, such as single-family residential and multifamily credit investments, and other types of mortgage-related and residential housing-related assets that the company may target from time to time, and for general working capital purposes.

Morgan Stanley, J.P. Morgan and UBS Investment Bank will be joint book-running managers for the offering.