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New York Mortgage Trust prices common stock offering

New York Mortgage Trust Inc. priced an underwritten public offering of 30 million common shares for gross proceeds of about $182.7 million.

The company granted the underwriters a 30-day option to buy up to an additional 4.5 million common shares.

The offering is expected to close Jan. 10. New York Mortgage Trust intends to use the net proceeds of the transaction for general business purposes.

Morgan Stanley, J.P. Morgan and UBS Investment Bank were joint book-running managers for the offering.