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New York Mortgage Trust, Inc. Announces Pricing Of Public Offering Of 7.75% Series B Cumulative Redeemable Preferred Stock

NEW YORK, May 28, 2013 (GLOBE NEWSWIRE) -- New York Mortgage Trust, Inc. (Nasdaq:NYMT) (the "Company") today announced that it priced a public offering of 3,000,000 shares of its 7.75% Series B Cumulative Redeemable Preferred Stock (the "Series B Preferred Stock"), liquidation preference $25.00 per share, for gross proceeds of $75,000,000, before deducting underwriting discounts and offering expenses. The Company has applied to list the Series B Preferred Stock on the Nasdaq Capital Market under the symbol "NYMTP."

The Company has granted the underwriters an option for 30 days to purchase up to an additional 450,000 shares of the Series B Preferred Stock to cover over-allotments, if any. The offering is subject to customary closing conditions and is expected to close on June 4, 2013.

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 is being 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 is being 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:

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