NEW YORK, Oct. 2, 2012 (GLOBE NEWSWIRE) -- New York Mortgage Trust, Inc. (Nasdaq:NYMT) ("NYMT" or the "Company") announced today that it has commenced an underwritten registered public offering of 13,500,000 shares of common stock. NYMT also expects to grant the underwriters an option to purchase up to an additional 2,025,000 shares of common stock. Deutsche Bank Securities Inc. will serve as the sole 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 Agency residential mortgage-backed securities ("RMBS") and certain commercial mortgage-backed securities collateralized by multi-family loans ("multi-family CMBS"). The Company may also use net proceeds for general working capital purposes, including opportunistic purchases of residential mortgage loans and commercial real estate-related debt investments and the repayment of indebtedness.
All shares of common stock will be offered under NYMT's existing shelf registration statement, which was declared effective by the Securities and Exchange Commission. The offering of these shares will be made only by means of a prospectus, which will be filed with the Securities and Exchange Commission. Copies of the prospectus related to this offering may be obtained from Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall Street, New York, NY 10005-2836; E-mail Prospectus: CPDG@db.com; Telephone (800) 503-4611.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the shares or any other securities, nor shall there be any sale of such shares or any other securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
About New York Mortgage Trust
New York Mortgage Trust, Inc. is a Maryland corporation that has elected to be taxed as a real estate investment trust ("REIT"). The Company invests in mortgage-related and financial assets and targets multi-family CMBS and Agency RMBS, including Agency RMBS consisting of adjustable-rate and hybrid adjustable-rate RMBS and Agency IOs consisting of interest only and inverse interest only RMBS that represent the right to the interest component of the cash flow from a pool of mortgage loans.
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve numerous risks and uncertainties. The Company's actual results may differ from the Company's beliefs, expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Forward-looking statements are not historical in nature and can be identified by words such as "anticipate," "estimate," "will," "should," "expect," "believe," "intend," "seek," "plan" and similar expressions or their negative forms, or by references to strategy, plans, or intentions. Forward-looking statements are based on the Company's beliefs, assumptions and expectations of the Company's future performance, taking into account all information currently available to it. No assurance can be given that the offering discussed above will be consummated, or that the net proceeds of the offering will be used as indicated. Consummation of the offering and the application of the net proceeds of the offering are subject to numerous possible events, factors and conditions, many of which are beyond the control of the Company and not all of which are known to it, including, without limitation, market conditions and those described under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2011 and the Company's Quarterly Reports on Form 10-Q for the quarters ended March 31 and June 30, 2012, both of which can be accessed at the SEC's website at www.sec.gov. All forward-looking statements speak only as of the date on which they are made. New risks and uncertainties arise over time, and it is not possible to predict those events or how they may affect the Company. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
CONTACT: For Further Information AT THE COMPANY Steven R. Mumma, Chief Executive Officer and President Phone: 212-792-0109 Email: email@example.comSource:New York Mortgage Trust, Inc.