NEW YORK, Jan. 23, 2017 (GLOBE NEWSWIRE) -- New York Mortgage Trust, Inc. (Nasdaq:NYMT) (the “Company”) announced
today the closing of its underwritten public offering of $138.0 million aggregate principal amount of 6.25% senior convertible
notes due 2022 (the “Notes”), which includes $18.0 million aggregate principal amount of the Notes sold by the Company to the
underwriter of the offering pursuant to the exercise by the underwriter of its option to purchase additional Notes.
The Notes bear interest at a rate equal to 6.25% per year, payable semiannually in arrears on January 15 and July
15 of each year, commencing July 15, 2017 and are expected to mature on January 15, 2022, unless earlier converted or repurchased.
The Company does not have the right to redeem the Notes prior to maturity. Holders of the Notes are permitted to convert their
Notes into shares of the Company’s common stock at any time prior to the close of business on the business day immediately
preceding the maturity date. The conversion rate initially equals 142.7144 shares of the Company’s common stock per $1,000
principal amount of Notes, which is equivalent to a conversion price of approximately $7.01 per share of the Company’s common
stock, based on a $1,000 principal amount of the Notes.
The net proceeds to the Company from this offering are expected to be approximately $127.3 million after deducting
the underwriting discount and commission and estimated transaction expenses payable by the Company. The Company intends to use the
net proceeds of the offering to acquire its targeted assets and for general working capital purposes, which may include the
repayment of indebtedness.
Nomura Securities International, Inc. acted as sole book-running manager for the offering.
The offering was made pursuant to an effective shelf registration statement, including a prospectus and related
prospectus supplement, filed by the Company with the Securities and Exchange Commission (the “SEC”).
These documents may be obtained for free by visiting the SEC’s website at http://www.sec.gov. Alternatively, a copy of the preliminary prospectus supplement and
accompanying prospectus related to the offering may be obtained by contacting:
Nomura Securities International, Inc.
Attention: Equity Syndicate
Worldwide Plaza
309 West 49th Street, 5th Floor
New York, New York 10019-7316
(212) 667-9562
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be
any sale of these securities in any state in which such offer, solicitation or sale would be unlawful.
About New York Mortgage Trust
New York Mortgage Trust, Inc. is a Maryland corporation that has elected to be taxed as a real estate investment
trust (“REIT”) for federal income tax purposes. The Company is an internally managed REIT which invests in mortgage-related and
financial assets and targets residential mortgage loans, including second mortgages and loans sourced from distressed markets,
multi-family CMBS, direct financing to owners of multi-family properties through mezzanine loans and preferred equity investments
and other commercial real estate-related investments and non-Agency RMBS. The Midway Group, L.P. and Headlands Asset Management,
LLC provide investment management services to the Company with respect to certain of its asset classes.
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 are based on our beliefs, assumptions and
expectations of our future performance, taking into account all information currently available to us. The beliefs,
assumptions and expectations on which the forward-looking statements are based are subject to risks and uncertainties and can
change as a result of many possible events or factors, not all of which are known to us, including those described in our Annual
Report on Form 10-K for the fiscal year ended December 31, 2015, which has been filed with the SEC. If a change occurs, these
forward-looking statements may vary materially from those expressed in this release. All forward-looking statements speak only as
of the date on which they are made. Except as required by law, we are not obligated to, and do not intend to, update or revise any
forward-looking statements, whether as a result of new information, future events or otherwise.
For Further Information AT THE COMPANY Kristine R. Nario Chief Financial Officer Phone: 646-216-2363 Email: knario@nymtrust.com
