New York Mortgage Trust Announces Repurchase of 7.875% of Total Redeemable Series C Preferred Shares



NEW YORK, June 30, 2021 (GLOBE NEWSWIRE) – New York Mortgage Trust, Inc. (Nasdaq: NYMT) (the “Company”) announced today its intention to buy back all 4,181,807 outstanding 7.875% shares of the Company. C Aggregate redeemable preference shares with a par value of USD 0.01 per share (“Series C Preference Shares”) on July 30, 2021 (“Redemption Date”). Series C preferred shares are currently listed on the Nasdaq Global Select Market under the symbol NYMTO.

All outstanding Series C preferred shares will be repurchased at a cash redemption price of USD 25.00 per share plus any accrued and unpaid dividends (whether declared or not) from July 15, 2021 until the Redemption Date (but not including) “Repurchase Price”). Dividends on the Series C Preferred Shares will cease accruing on the Maturity Date. Upon redemption, the Series C Preferred Shares will no longer be considered outstanding and all rights in relation to the Series C Preferred Shares will terminate and terminate, except for the holders’ right to receive the redemption price without interest. , from a buyout and payment agent.

All issued and outstanding Series C preferred shares are held in uncertificated form through the Custodian Trust Company (“DTC”). The Series C Preferred Shares will be repurchased in accordance with DTC procedures. Payments to DTC for the Series C Preference Shares will be made by American Stock Transfer & Trust Company, LLC, which acts as the redemption and payment agent (the “Redemption Agent”). The Redemption Agent address is as follows:

US Stock Transfer Company and Trust Company, LLC
6201 15th Avenue
Brooklyn, NY 11219

This press release does not constitute a notice of redemption pursuant to the Company Additional Articles of Association governing the Series C Preferred Shares.

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:


Source link