NYMT Begins Public Offering

NYMT Begins Public Offering New York Mortgage Trust Inc. (NYMT) has begun an underwritten registered public offering of 3 million shares of common stock. NYMT also expects to grant the underwriters an option to purchase up to an additional 450,000 shares of common stock to cover potential over-allotments.

In a press statement, NYMT says that it expects to use the net proceeds of this offering to acquire certain of the company's target assets, including multi-family commercial mortgage-backed securities – such as those issued under one or more Freddie Mac Multifamily Loan Securitization Series – and agency residential mortgage-backed securities. The company adds that it may also use the net proceeds for general working capital purposes.

Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc., will serve as book-running manager for the offering. Maxim Group LLC, National Securities Corp. and Aegis Capital Corp. will serve as co-managers.


Please enter your comment!
Please enter your name here