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New York Mortgage Trust plans to offer 12.5 million common shares


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According to Market Intelligence, April 2023

New York Mortgage Trust plans to offer 12.5 million common shares

New York Mortgage Trust Inc. intends to make a public offering of 12.5 million common shares.

The company also anticipates to grant the underwriters an option to buy up to an additional 1,875,000 shares.

It plans to use the net proceeds for general business purposes, which may include buying its targeted assets, such as single-family residential and multi-family credit investments.

Morgan Stanley, Credit Suisse, Barclays, Deutsche Bank Securities, J.P. Morgan, Keefe Bruyette & Woods, RBC Capital Markets and UBS Investment Bank will serve as book-running managers for the offering.

On Aug. 9, New York Mortgage Trust filed an automatic shelf registration statement for the sale of common stock, preferred stock and debt securities that it may offer from time to time.

Also on that day, the company requested that the Securities and Exchange Commission consent to the withdrawal of its registration statement filed Feb. 28.