New York Mortgage Trust Inc. (NYMT) Wednesday commenced an underwritten registered public offering of 3.75 million shares of common stock. The company expects to grant the underwriters an option to purchase up to an additional 562 thousand shares of common stock to cover over-allotments.
The company expects to use the net proceeds 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 and for general working capital purposes, including the repayment of indebtedness.
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