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New York Mortgage Trust to offer 25 million common shares

New York Mortgage Trust Inc. intends to offer 25 million common shares in an underwritten public offering.

The company expects to grant the underwriters an option to purchase up to an additional 3.75 million common shares.

New York Mortgage Trust intends to use the net proceeds of this offering for general business purposes, which may include acquiring its targeted assets, including both single-family residential and multifamily credit investments, various other types of mortgage-related and residential housing-related assets that the company may target from time to time, and general working capital purposes.

Morgan Stanley, J.P. Morgan, UBS Investment Bank, Barclays, BofA Merrill Lynch, Credit Suisse, Keefe Bruyette & Woods and RBC Capital Markets will serve as joint book-running managers for the offering, with Nomura and Raymond James serving as senior co-managers for the offering.