New York Mortgage Trust Inc. (NYMT) has commenced an underwritten registered public offering of 4 million shares of common stock. NYMT also expects to grant the underwriters an option to purchase up to an additional 600,000 shares of common stock to cover over-allotments, if any.
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 multifamily loans and agency residential mortgage-backed securities. The company may also use net proceeds for general working capital purposes, including the repayment of indebtedness.
Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc., will serve as the book-running manager for the offering.