Angel Oak Mortgage, Inc. announces prices for initial public offering

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ATLANTA – () – Angel Oak Mortgage, Inc. (The “Company”) today announced the price of its initial public offering of 7,200,000 ordinary shares at $ 19 per share. The ordinary shares of the Company are expected to begin trading on the New York Stock Exchange on June 17, 2021 under the symbol ‘AOMR’, and the placement is expected to close on June 21, 2021 subject to normal closing conditions. The company granted the underwriters a 30-day call option to purchase an additional 1,080,000 ordinary shares.

In addition, simultaneously with the completion of the placement, the Company will sell 2,105,263 common shares to CPPIB Credit Investments Inc. in a parallel private placement at $ 19 per share.

The Company intends to use the net proceeds from the offering and private placement to acquire unqualified (“non-QM”) mortgages and other target assets, primarily from affiliates of Angel Oak Capital Advisors, LLC, or other target assets through the secondary market in in accordance with the Company’s strategy and investment principles as described in the prospectus and for general corporate purposes.

Wells Fargo Securities, BofA Securities, Morgan Stanley and UBS Investment Bank act as joint accountancy managers for the offering. B. Riley Securities acts as the placement bookrunner, while Nomura and Oppenheimer & Co. act as co-managers for placement.

Placing of ordinary shares is carried out only through the issue prospectus. Copies of the prospectus can be obtained by contacting Wells Fargo Securities, Attn: Equity Syndicate Department, 30 Hudson Yards, 500 West 33rd Street – 14th Floor, New York, NY 10001, telephone: 800-326-5897, email: cmclientsupport@wellsfargo.com; BofA Securities, NC1-004-03-43, Attn: Prospectus Department, 200 North College St., 3rd Floor, Charlotte, NC 28255-0001, Email: dg.prospectus_requests@bofa.com; Morgan Stanley, Attn: Prospectus Department, 180 Varick St., 2nd Floor, New York, NY 10014; or UBS Investment Bank, Attn: Prospectus Department, 25th Floor, 1285 Avenue of the Americas, New York, NY 10019, phone: 888-827-7275, email: ol-prospectusrequest@ubs.com

An S-11 filing application, including a prospectus, pertaining to these securities has been announced by the current Securities and Exchange Commission. This press release does not constitute an offer to sell or an invitation to offer to buy these securities, nor is it permitted to sell these securities in any state or jurisdiction in which such an offer, offer or sale would be illegal prior to registration. or qualifications under the securities laws of any such state or jurisdiction.

About Angel Oak Mortgage, Inc.

Angel Oak Mortgage, Inc. is a real estate finance company that specializes in acquiring and investing in non-QM loans and other mortgage related assets in the US mortgage market. The company’s goal is to provide shareholders with attractive risk-adjusted returns through cash allocation and capital gains based on interest rates and credit cycles. The company is outsourced and advised by its affiliate Angel Oak Capital Advisors, LLC, which together with its affiliates is a leading alternative credit manager with a vertically integrated platform for mortgage lending.

Forward-looking statements

This press release contains certain forward-looking statements that are subject to various risks and uncertainties, including, but not limited to, statements regarding the Company’s investment performance and its financing needs and arrangements. Forward-looking statements can usually be identified using forward-looking terminology such as may, will, should, potential, intend, expect, make an effort, seek, expect. , ”“ Evaluate ”,“ believe ”,“ could ”,“ predict ”,“ predict ”and“ continue ”, or by the negativeness of these words and phrases or other similar words or expressions. Forward-looking statements are based on certain assumptions; discuss future expectations; describe existing or future plans and strategies; contain forecasts of performance results, liquidity and / or financial condition; or provide other promising information. The Company’s ability to predict future events or conditions, their impact or the actual effect of existing or future plans or strategies is inherently uncertain, in particular due to the uncertainties created by the COVID-19 pandemic, including the projected impact of COVID-19. pandemic on the business, financial results and results of the Company. Although the Company believes that such forward-looking statements are based on reasonable assumptions, actual results and future performance may differ materially from those set forth or implied in such forward-looking statements. Caution is advised that you should not rely on these forward-looking statements, which reflect the views of the Company as of the date of this press release only. Except as otherwise provided by applicable law, neither the Company nor any other person is responsible for the accuracy and completeness of forward-looking statements. The Company assumes no obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise.

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