NEW YORK, April 30, 2013 (GLOBE NEWSWIRE) -- New York Mortgage Trust, Inc. (Nasdaq:NYMT) ("NYMT" or the "Company") announced today that it priced a public offering of 13,600,000 shares of common stock for total estimated gross proceeds of approximately $97.4 million. NYMT also granted the underwriters an option to purchase up to an additional 2,040,000 shares of common stock. The offering is subject to customary closing conditions and is expected to close on May 3, 2013. Deutsche Bank Securities and Credit Suisse are serving as joint bookrunners for the offering. JMP Securities LLC, 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 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 are being 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 is being 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, New York 10005-2836, or by telephone at (800) 503-4611, or by e-mail at email@example.com, 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 firstname.lastname@example.org.