NEW YORK, April 29, 2013 (GLOBE NEWSWIRE) -- New York Mortgage Trust, Inc. (Nasdaq:NYMT) ("NYMT" or the "Company") announced today that it plans to make a public offering of 13,600,000 shares of its common stock. NYMT also expects to grant the underwriters an option to purchase up to an additional 2,040,000 shares of common stock. Deutsche Bank Securities and Credit Suisse will serve as joint bookrunners for the offering.
NYMT expects to initially use the net proceeds of this offering to acquire primarily Agency RMBS (including Agency interest only securities) and certain of its other targeted assets. Over time, the Company expects to redeploy a significant portion of the net proceeds from this offering to acquire certain of its other targeted assets. The Company may also use net proceeds for general working capital purposes, including the repayment of indebtedness.
All shares of common stock will be offered under NYMT's existing shelf registration statement, which was declared effective by the Securities and Exchange Commission on January 28, 2013. The offering of these shares will be made only by means of a prospectus and a related prospectus supplement, which will be filed with the Securities and Exchange Commission. Copies of the prospectus and prospectus supplement related to this offering may be obtained from Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall Street, New York, NY 10005-2836, Telephone: (800) 503-4611, or by emailing firstname.lastname@example.org, and Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, New York 10010, or by telephone at (800) 221-1037, or by email at email@example.com .This press release shall not constitute an offer to sell or the solicitation of an offer to buy the 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.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV