New York Mortgage Trust Inc. priced an upsized public offering of 12.6 million of its common shares at $5.96 per share.
Underwriters have a 30-day option to purchase up to an additional 1,890,000 common shares. It expects net proceeds of approximately $72.8 million from the offering, or approximately $83.8 million if the underwriters exercise in full their option to purchase additional shares.
Net proceeds will be used for general business purposes, which may include acquiring targeted assets and general working capital purposes.
The offering is expected to close on Jan. 11.
Morgan Stanley, Credit Suisse, Barclays, Deutsche Bank Securities, J.P. Morgan, Keefe Bruyette & Woods, RBC Capital Markets, UBS Investment Bank and Raymond James are serving as joint book-running managers for the offering.