logo
  Join        Login             Stock Quote

New York Mortgage Trust (NYMT) Prices 2.75M Share Offering At 4 Pct Discount

 May 25, 2012 12:27 PM


(By Balaseshan) New York Mortgage Trust Inc. (NASDAQ:NYMT), a self-advised real estate investment trust, said it has priced an underwritten registered public offering of 2.75 million shares of common stock at $6.65 per share, a 4% discount to Thursday's close.

The company also granted the underwriters an option to purchase up to an additional 412,500 shares of common stock to cover over-allotments, if any.

New York Mortgage Trust anticipates the offering to close on May 31, 2012, subject to customary closing conditions.

The company expects to use the net proceeds of this offering to acquire certain of its targeted assets, including commercial mortgage-backed securities collateralized by multi-family loans (multi-family CMBS) and Agency residential mortgage-backed securities (RMBS).

New York Mortgage Trust 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. (NYSEAMEX:LTS), is serving as sole bookrunning manager for the offering. Aegis Capital Corp., Maxim Group LLC and National Securities Corporation are serving as co-managers.

NYMT is trading down 4.19% at $6.64 on Friday. The stock has been trading between $5.77 and $7.98 for the past 52 weeks.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageUpbeat Forecasts For US Housing Sales In March

The Fiscal Times advises that the “the housing market is about to perk up.” One of the reasons for the read on...

article imageHappy Birthday, Moore's Law - Pearls of Wisdom for Investors

As Moore’s Law turns 50, we reflect on technology’s incredible history and limitless read on...

article imageIndex Investing Is Not Inherently Socialistic

How does capital get allocated to the public stock read on...

article imageDon't Let Fear of a 'Grexit' Keep You Out of European Stocks

After nearly three years of extremely weak economic growth, the European Central Bank is finally delivering read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center

Related Articles:

Recent Articles by Balaseshan
More Articles on: Finance



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.