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New York Mortgage Trust closes preferred equity offering

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New York Mortgage Trust closes preferred equity offering

New York Mortgage Trust Inc. on Oct. 13 closed an offering of 5.4 million shares of its 8.00% series D fixed-to-floating rate preferred stock.

The 5.4 million figure includes 400,000 shares issued for the partial exercise of the underwriters' overallotment option. Net proceeds to the company stand at approximately $130.4 million.