Real estate investment trust New York Mortgage Trust Inc (NYMT) Thursday announced that it has priced an underwritten registered public offering of 4.5 million shares of common stock at a public offering price of $6.70 per share.
The company stated that it has also granted the underwriters an option to purchase up to an additional 675,000 shares of common stock to cover over-allotments, if any.
The offering is subject to customary closing conditions and is expected to close on July 17, 2012.
The company has nominated Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. to act as sole bookrunning manager for the offering.
The company further added that it 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 multi-family loans and Agency residential mortgage-backed securities.
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