New York Mortgage Trust, Inc. announced the pricing of an underwritten public offering of $75 million aggregate principal amount of its 9.125% senior notes due 2030. This offering is designed to strengthen the company's capital structure and provide funding for its strategic initiatives.
The company has also granted the underwriters a 30-day option to purchase up to an additional $11.25 million aggregate principal amount of the notes. The offering is expected to close on January 14, 2025, subject to customary closing conditions.
This financing move provides New York Mortgage Trust with additional long-term capital, which is crucial for funding operations and growth. The 9.125% coupon rate reflects the current market conditions for such debt instruments.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.