New York Mortgage Trust Inc. entered into an equity distribution agreement with Credit Suisse Securities LLC to offer and sell up to $100 million of New York Mortgage common shares from time to time.
The shares may be offered and sold through Credit Suisse in at-the-market transactions, including sales directly on the Nasdaq Global Select Market, the existing trading market for common shares, sales made to or through a market maker other than on an exchange or in negotiated transactions specified in a written notice from the company.
New York Mortgage can also sell shares to Credit Suisse as principal for its own account at an agreed-upon price at the time of the sale. If the company sells shares to Credit Suisse as principal, it will enter into a separate terms agreement. Credit Suisse is entitled to compensation of up to 2.0% of the sale's gross proceeds. New York Mortgage is not obligated to sell any of the shares and may suspend solicitations and offers.