New York Mortgage Trust Announces Public Prices

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NEW YORK, June 29, 2021 (GLOBE NEWSWIRE) – New York Mortgage Trust, Inc. (Nasdaq: NYMT) (the “Company”) announced today a public offering price of 5,000,000 shares of its 6.875% fixed interest in F Series. Cumulatively redeemable floating rate preferred shares (“F Series Preference Shares”), liquidation privileges 25.00 dollars per share, gross proceeds of $ 125,000,000 excluding underwriting rebates and placement costs. The company has applied to be listed as Series F preferred shares on the Nasdaq Global Select Market under the symbol ‘NYMTL’. The Company has granted the underwriters a 30-day option to buy up to 750,000 additional shares of Series F Preferred Shares to cover over-allocation, if any. The placement is subject to normal closing conditions and is expected to close on July 7, 2021.

Raymond James & Associates, Inc. acted as the sole accounting manager on the proposal.

The Company intends to use the net proceeds from the offering to finance the repurchase of all outstanding shares of its 7.875% cumulative redeemable Series C preferred shares at a par value of US $ 0.01 per share (the “Series C Preference Shares”). In addition, the Company intends to use the remainder of the net proceeds from the offering for general business purposes, which may include, but is not limited to, the acquisition of targeted assets, including residential and multi-family assets, and various other types of assets related to a mortgage, a residential building and a loan that he may use from time to time, the redemption of all or part of additional series of his preferred shares and general purposes of working capital. This press release does not constitute a notice of repurchase of such Series C Preferred Shares or any other existing series of Company preferred shares.

The offering was made in accordance with the Company’s existing shelf registration statement, which automatically became effective upon filing with the Securities and Exchange Commission (“SEC”) on August 9, 2018. The placement of these securities was carried out only through the prospectus. and the corresponding prospectus supplement to be filed with the SEC. Copies of the prospectus and prospectus supplements pertaining to this offer may be obtained, if any, from Raymond James & Associates, Inc., Attention: Syndicate, 880 Carillon Parkway St. Petersburg, FL 33716, at (800) 248- 8863 or email prospectus@raymondjames.com.

This press release does not constitute an offer to sell or an offer to buy shares of Series F Preferred Shares or any other securities, nor is it permitted to sell such shares or any other securities in any state or other jurisdiction in which such an offer, solicitation or the sale will be illegal until registered or qualified under the securities laws of any such state or other jurisdiction.

About New York Mortgage Trust

New York Mortgage Trust, Inc. is a Maryland corporation that is taxed as a real estate investment fund (REIT) for federal income tax purposes. The NYMT is an in-house REIT management that deals with the acquisition, investment, financing and management of primarily mortgages, as well as single and multi-family residential assets.

Forward-looking statements

This press release contains forward-looking statements within the meaning of the safeguard provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve numerous risks and uncertainties. The Company’s actual results may differ from its beliefs, expectations, estimates and projections and, therefore, you should not rely on these forward-looking statements as predicting future events. Forward-looking statements are not of a historical nature and can be identified with words such as “expect,” “estimate,” “will,” “should,” “expect,” “believe,” “intend,” “seek.” plan ”and similar expressions or their negative forms, or references to strategy, plans or intentions. No assurance can be given that the offer discussed above will be completed on the terms described or at all, or that the net proceeds from the offer will be used as indicated. The completion of the offer on the terms described and the use of the net proceeds from the offer is subject to many possible events, factors and conditions, many of which are beyond the control of the Company and not all of them are known to it. … These forward-looking statements are subject to risks and uncertainties, including, but not limited to, those described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, under “Clause 1A. Risk Factors “Other risks, uncertainties and factors that could cause actual results to differ materially from those projected may from time to time be described in reports that the Company submits to the Securities and Exchange Commission, including reports on Form 10 -Q and 8-K. The Company assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

For more information

Christine Nario-Eng
Chief Financial Officer
Phone: 212-792-0107
Email Mail: InvestorRelations@nymtrust.com

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