Impac Mortage Holdings (IMH) Prices 3M Follow-On Offering of Common Stock at $13/Share

September 16, 2016 9:07 AM EDT

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Impac Mortgage Holdings, Inc. (NYSE: IMH) (the “Company” or “Impac”) announced today the pricing of its public follow-on offering of 3,000,000 shares of common stock at a public offering price of $13.00 per share. The number of shares sold represents a 20% increase of the shares offered beyond what was included in the preliminary prospectus supplement. Gross proceeds to Impac are expected to be approximately $39.0 million before deducting underwriter discounts and commissions and estimated expenses payable by Impac. In addition, the Company has granted the underwriter a 30-day option to purchase up to an additional 450,000 shares of common stock offered in the public offering on the same terms and conditions to cover over-allotments, if any.

JMP Securities LLC is acting as sole book-running manager for the offering. The offering is expected to close on or about September 21, 2016, subject to customary closing conditions.

A registration statement relating to these securities was filed with the U.S. Securities and Exchange Commission (the “SEC”) on May 28, 2015 and declared effective on June 16, 2015.



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