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NEW YORK, April 1, 2014 (GLOBE NEWSWIRE) -- New York Mortgage Trust, Inc. (Nasdaq:NYMT) ("NYMT" or the "Company") announced today that it plans to make a public offering of 13,000,000 shares of its common stock. NYMT also expects to grant the underwriters an option to purchase up to an additional 1,950,000 shares of common stock. UBS Securities LLC, Credit Suisse Securities (USA) LLC, Barclays Capital Inc. and RBC Capital Markets, LLC will serve as joint bookrunning managers for the offering.
NYMT intends to use a majority of the net proceeds of this offering to acquire distressed residential loans and the remainder of the net proceeds to invest in mezzanine loans to and preferred equity investments in owners of multi-family properties and certain of its other targeted assets. The Company may also use a portion of the 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, when available, from UBS Securities LLC, Attention: Prospectus Department, 299 Park Avenue, New York, New York 10171, Telephone: (888) 827-7275, Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY, 10010, Telephone: (800) 221-1037, or by emailing firstname.lastname@example.org, 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 RBC Capital Markets, LLC, Attention: Prospectus Department, Three World Financial Center, 200 Vesey Street, 8th Floor, New York, New York 10281, Telephone: (877) 822-4089.