New York Mortgage Trust (NYMT) Commences 3.75M Common Offeirng
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New York Mortgage Trust, Inc. (Nasdaq: NYMT) has commenced an underwritten registered public offering of 3,750,000 shares of common stock. NYMT also expects to grant the underwriters an option to purchase up to an additional 562,500 shares of common stock to cover over-allotments, if any. Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE: LTS), will serve as the bookrunning manager for the offering.
NYMT expects to use the net proceeds of this offering to acquire certain of the Company's targeted assets, including commercial mortgage-backed securities collateralized by multi-family loans ("multi-family CMBS") and Agency residential mortgage-backed securities ("RMBS"). The Company may also use net proceeds for general working capital purposes, including the repayment of indebtedness.
NYMT expects to use the net proceeds of this offering to acquire certain of the Company's targeted assets, including commercial mortgage-backed securities collateralized by multi-family loans ("multi-family CMBS") and Agency residential mortgage-backed securities ("RMBS"). The Company may also use net proceeds for general working capital purposes, including the repayment of indebtedness.
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