NEW YORK, Oct. 3, 2012 (GLOBE NEWSWIRE) -- New York Mortgage Trust, Inc. (Nasdaq:NYMT) ("NYMT" or the "Company") announced today that it priced an underwritten registered public offering of 13,500,000 shares of common stock at a public offering price of $6.89 per share. NYMT also granted the underwriters an option to purchase up to an additional 2,025,000 shares of common stock. The offering is subject to customary closing conditions and is expected to close on October 9, 2012. Deutsche Bank Securities Inc. is serving as the sole bookrunning manager for the offering. Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE MKT:LTS), and Maxim Group LLC are serving as co-managers.
NYMT expects to use the net proceeds of this offering to acquire certain of the Company's targeted assets, including Agency residential mortgage-backed securities ("RMBS") and certain commercial mortgage-backed securities collateralized by multi-family loans ("multi-family CMBS"). The Company may also use net proceeds for general working capital purposes, including opportunistic purchases of residential mortgage loans and commercial real estate-related debt investments and the repayment of indebtedness.
All shares of common stock are being offered under NYMT's existing shelf registration statement, which was declared effective by the Securities and Exchange Commission. The offering of these shares is being made only by means of a prospectus, which will be filed with the Securities and Exchange Commission. Copies of the prospectus related to this offering, when available, may be obtained from Deutsche Bank Securities Inc., Attention: Prospectus Group, at 60 Wall Street, New York, New York 10005-2836, by e-mail at email@example.com, or by telephone at (800) 503-4611.This press release shall not constitute an offer to sell or the solicitation of an offer to buy the offered shares or any other securities, nor shall there be any sale of such shares or any other securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.