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NEW YORK, May 28, 2013 (GLOBE NEWSWIRE) -- New York Mortgage Trust, Inc. (Nasdaq:NYMT) (the "Company") today announced that it plans to make a public offering of shares of its Series B Cumulative Redeemable Preferred Stock (the "Series B Preferred Stock"). The Company has applied to list the Series B Preferred Stock on the Nasdaq Capital Market under the symbol "NYMTP."
Citigroup Global Markets Inc. and Keefe, Bruyette & Woods, Inc. are acting as joint book-running managers for the offering. Barclays Capital Inc., Credit Suisse Securities (USA) LLC and Deutsche Bank Securities Inc. are acting as joint-lead managers. JMP Securities LLC and MLV & Co. LLC are acting as co-managers.
The Company intends to use the net proceeds of the offering to acquire primarily distressed residential mortgage loans and commercial mortgage-related debt investments. The Company may also use a portion of the net proceeds for general working capital purposes, including the repayment of indebtedness.
The offering will be made pursuant to the Company's existing shelf registration statement, which was declared effective by the Securities and Exchange Commission on January 28, 2013. This press release is neither an offer to sell nor a solicitation of an offer to buy shares of Series B Preferred Stock. The offering of these securities will be made only by means of a prospectus and a related prospectus supplement, which will be filed with the Securities and Exchange Commission and a copy of which may be obtained by contacting:
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.