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New York Mortgage Trust Announces Exercise Of Underwriters' Option To Purchase Additional Shares

NEW YORK, Jan. 9, 2014 (GLOBE NEWSWIRE) -- New York Mortgage Trust, Inc. (Nasdaq:NYMT) ("NYMT" or the "Company") today announced that the underwriters of its underwritten registered public offering of 10,000,000 shares of common stock have exercised in full their option to purchase an additional 1,500,000 shares of common stock from the Company. The closing for the additional 1,500,000 shares is expected to occur concurrent with the closing for the 10,000,000 shares on January 10, 2014, subject to customary closing conditions.

The Company will receive proceeds of approximately $9.9 million from the sale of the additional shares, net of the underwriting discounts and commissions payable on such additional shares. After deducting the underwriting discounts and commissions as well as the offering expenses payable by NYMT, the Company will receive total net proceeds of approximately $75.8 million from the sale of 11,500,000 shares of common stock in the offering, including the purchase of the additional shares by the underwriters.

All shares of common stock were 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 was made only by means of a prospectus and a related prospectus supplement, which was filed with the Securities and Exchange Commission. Copies of the prospectus and prospectus supplement related to this offering may be obtained, when available, from UBS Securities LLC, Attention: Prospectus Department, 299 Park Avenue, New York, New York 10171, Telephone: (888) 827-7275, Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by calling (888) 603-5847, or by emailing Barclaysprospectus@broadridge.com, and Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY, 10010, Telephone: (800) 221-1037, or by emailing newyork.prospectus@credit-suisse.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.

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