September 28, 2021

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Mortgage News

New York Mortgage Trust Announces Pricing of Public

NEW YORK, June 29, 2021 (GLOBE NEWSWIRE) – New York Mortgage Trust, Inc. (Nasdaq: NYMT) (the “Company”) today announced the pricing of a public offering of 5,000,000 shares of its 6.875% Series F Fixed – Cumulatively redeemable variable rate preferred stock (the “Series F Preferred Stock”), liquidation preference $ 25.00 per share, for gross proceeds of $ 125,000,000 before the deduction of subscription haircuts and offering costs. The Company has filed for listing of the Series F Preferred Shares on the Nasdaq Global Select Market under the symbol “NYMTL”. The company has given the syndicate banks a 30-day option to purchase up to 750,000 additional Series F preferred shares to cover any over-allotments. The offering is subject to customary closing conditions and is expected to close on July 7, 2021.

Raymond James & Associates, Inc. acted as sole book running manager for the offering.

The Company intends to use the net proceeds of the offering to fund the redemption of all outstanding shares of its 7.875% cumulative redeemable Series C Preferred Stock with a par value of $ 0.01 per share (the “Series C Preferred Stock”). In addition, the Company intends to use the remaining net proceeds from the Offering for general business purposes which may, among other things, include the acquisition of its intended assets, including both single and multi-family residential real estate and various other types of mortgage, residential and credit-related assets, from time to time he may aim to repay all or any additional series of his preferred stock and general working capital purposes. This press release does not constitute a notice of redemption of such Series C Preferred Stock or any other existing series of Company Preferred Stock.

The offering was made pursuant to the Company’s existing Shelf Registration Statement, which became effective automatically upon filing with the Securities and Exchange Commission (the “SEC”) on August 9, 2018. The offering of these securities has only been made by means of a prospectus and an accompanying supplement to the prospectus that will be filed with the SEC. Copies of the prospectus and the prospectus supplement to this offering, if available, can be obtained from Raymond James & Associates, Inc., Attention: Syndicate, 880 Carillon Parkway St. Petersburg, FL 33716, by calling (800) 248-8863, or by e – Mail to [email protected]

This press release does not constitute an offer to sell or the solicitation of an offer to buy shares of Series F Preferred Stock or any other security, nor is there any sale of such stock or any other security in any state or jurisdiction in which a such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or other jurisdiction.

Via the New York Mortgage Trust

New York Mortgage Trust, Inc. is a Maryland company that has qualified for taxation as a Real Estate Investment Trust (“REIT”) for federal income tax purposes. NYMT is an internally managed REIT that primarily purchases, invests, finances and manages mortgage-related, single and multi-family residential real estate.

Forward-Looking Statements

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. Actual results of the company could differ from its beliefs, expectations, estimates and projections and therefore 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 using words such as “look ahead”, “estimate”, “will”, “should”, “expect”, “believe”, “intend”, “aim”, “plan” and similar expressions or their negative forms or through references to strategy, plans or intentions. No assurance can be given that the offer described above will be concluded on the conditions described or at all or that the net proceeds of the offer will be used as stated. Completion of the offer on the terms described and the use of net proceeds from the offer are subject to numerous possible events, factors and conditions, many of which are beyond the control of the company and of which it is not aware of all. These forward-looking statements are subject to risks and uncertainties, including, but not limited to, those set out in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 under “Item 1A. Risk Factors. “Other risks, uncertainties, and factors that could cause actual results to differ materially from those projected may be described from time to time in reports the company fils with the Securities and Exchange Commission, including reports on the Forms 10-Q and 8-K. The company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or for any other reason.

For more information

Kristine Nario-Eng
CFO
Phone: 212-792-0107
Email: [email protected]