Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Mon, November 11, 5:10 PM
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Slide #3. New York Mortgage Trust, Inc. — Preferred Stock Offering
New York Mortgage Trust, Inc. (NASDAQ:NYMT)
Date of Pricing:
Price Per Share:
Preferred Stock Offering Details:
New York Mortgage Trust, Inc. (Nasdaq: NYMT) (the "Company") announced today the pricing of a public offering of 6,000,000 shares of its 7.875% Series E Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (the "Series E Preferred Stock"), liquidation preference $25.00 per share, for gross proceeds of $150,000,000 before deducting underwriting discounts and offering expenses. The Company has applied to list the Series E Preferred Stock on the Nasdaq Global Select Market under the symbol "NYMTM." The Company has granted the underwriters an option for 30 days to purchase up to an additional 900,000 shares of the Series E Preferred Stock to cover over-allotments, if any. The offering is subject to customary closing conditions and is expected to close on October 18, 2019.
New York Mortgage Trust is a real estate investment trust engaged in acquiring, investing in, financing and managing mortgage-related and residential housing-related assets. Co.'s investment portfolio includes: structured multi-family property investments such as multi-family commercial mortgage-backed securities and preferred equity in, and mezzanine loans to, owners of multi-family properties; residential mortgage loans, including distressed residential mortgage loans, non- qualified mortgage loans, second mortgages, and other residential mortgage loans, non-Agency residential mortgage-backed securities (RMBS), Agency RMBS and other mortgage-related and residential housing-related assets.
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Buy (2.80 out of 4)
(ranked lower than approx. 68% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com