NEW YORK, Aug. 09, 2018 (GLOBE NEWSWIRE) -- New York Mortgage Trust, Inc. (Nasdaq: NYMT) (“NYMT” or the
“Company”) announced today that it priced an underwritten public offering of 12,500,000 shares of its common stock at a public
offering price of $6.16 per share. NYMT also granted the underwriters a 30-day option to purchase up to an additional 1,875,000
shares of common stock. The offering is expected to close on August 14, 2018, subject to customary closing conditions. Morgan
Stanley, Credit Suisse, Barclays, Deutsche Bank Securities, J.P. Morgan, Keefe, Bruyette & Woods, A Stifel Company, RBC Capital
Markets and UBS Investment Bank acted as joint bookrunning managers for the offering.
NYMT estimates that the net proceeds from the offering will be approximately $74.7 million (or approximately
$86.0 million if the underwriters exercise in full their option to purchase additional shares) after deducting the underwriting
discounts and commissions and its estimated offering expenses. NYMT intends to use the net proceeds of this offering for general
business purposes, which may include, among other things, acquiring its targeted assets, including both single-family residential
and multi-family credit investments, and various other types of mortgage-related and residential housing-related assets that the
Company may target from time to time and general working capital purposes.
The offering was made pursuant to the Company's existing shelf registration statement, which automatically
became effective upon filing with the Securities and Exchange Commission (the "SEC") on August 9, 2018. The offering of these
securities was made only by means of a prospectus and a related prospectus supplement, which will be filed with the SEC. Copies of
the prospectus and prospectus supplement related to this offering may be obtained, when available, from Morgan Stanley & Co. LLC,
Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, and Credit Suisse Securities (USA) LLC, Attention:
Prospectus Department, One Madison Avenue, New York, NY 10010 or by telephone: 800-221-1037 or by email: newyork.prospectus@credit-suisse.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the shares or
any other securities, nor shall there be any sale of such shares or any other securities in any state or other jurisdiction in
which such offer, solicitation or sale would be unlawful prior to registration or qualification 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 has elected to be taxed as a real
estate investment trust for federal income tax purposes (“REIT”). NYMT is an internally managed REIT in the business of acquiring,
investing in, financing and managing mortgage-related and residential housing-related assets and targets multi-family CMBS, direct
financing to owners of multi-family properties through preferred equity and mezzanine loan investments, residential mortgage loans,
including second mortgages and loans sourced from distressed markets, non-Agency RMBS, Agency RMBS and other mortgage-related and
residential housing-related investments.
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 involve numerous risks and uncertainties. The
Company’s actual results may differ from the Company’s beliefs, expectations, estimates, and projections and, consequently, you
should not rely on these forward-looking statements as predictions of future events. Forward-looking statements are not historical
in nature and can be identified by words such as “anticipate,” “estimate,” “will,” “should,” “expect,” “believe,” “intend,” “seek,”
“plan” and similar expressions or their negative forms, or by references to strategy, plans, or intentions. Forward-looking
statements are based on the Company’s beliefs, assumptions and expectations of the Company’s future performance, taking into
account all information currently available to it. No assurance can be given that the offering discussed above will be completed on
the terms described or at all, or that the net proceeds of the offering will be used as indicated. Completion of the offering on
the terms described, and the application of the net proceeds of the offering, are subject to numerous possible events, factors and
conditions, many of which are beyond the control of the Company and not all of which are known to it, including, without
limitation, market conditions and those described under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for
the year ended December 31, 2017 and as updated by those risk factors included in the Company's subsequent filings under the
Securities Exchange Act of 1934, as amended, which can be accessed at the SEC’s website at www.sec.gov. All forward-looking
statements speak only as of the date on which they are made. New risks and uncertainties arise over time, and it is not possible to
predict those events or how they may affect the Company. The Company undertakes no obligation to update or revise any
forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by
law.
CONTACT: For Further Information
AT THE COMPANY
Kristine R. Nario-Eng
Investor Relations
Phone: (646) 216-2363
Email: knario@nymtrust.com
