New York Mortgage Trust Announces Redemption of 7.75% Series B Cumulative Redeemable Preferred Stock
19 November 2021 - 8:05AM
New York Mortgage Trust, Inc. (Nasdaq: NYMT) (the “Company”)
announced today that it intends to redeem all 3,156,087 of the
outstanding shares of the Company’s 7.75% Series B Cumulative
Redeemable Preferred Stock, par value $0.01 per share (the “Series
B Preferred Stock”), on December 18, 2021 (the “Redemption Date”).
Shares of the Series B Preferred Stock are currently listed on the
Nasdaq Global Select Market under the symbol “NYMTP.”
All outstanding shares of the Series B Preferred Stock will be
redeemed at a cash redemption price of $25.00 per share, plus
any accrued and unpaid dividends (whether or not declared)
from October 15, 2021 up to, but not including, the
Redemption Date (the “Redemption Price”). Dividends on the shares
of Series B Preferred Stock will cease to accrue on the Redemption
Date. The Redemption Price will be paid on December 20, 2021, which
is the next business day following the Redemption Date. Upon
redemption, the shares of Series B Preferred Stock will no longer
be deemed outstanding and all rights with respect to the shares of
Series B Preferred Stock will cease and terminate, except only the
right of the holders thereof to receive the Redemption Price,
without interest, from the redemption and payment agent.
All issued and outstanding shares of Series B Preferred Stock
are held in book-entry form through the Depository Trust Company
(“DTC”). The shares of Series B Preferred Stock will be redeemed in
accordance with the procedures of DTC. Payment to DTC for the
shares of Series B Preferred Stock will be made by American Stock
Transfer & Trust Company, LLC, which is serving as redemption
and payment agent (the “Redemption Agent”). The Redemption Agent’s
address is as follows:
American Stock Transfer & Trust Company, LLC6201 15th Avenue
Brooklyn, New York 11219
This press release does not constitute a notice of redemption
under the Company’s Articles Supplementary governing the shares of
Series B Preferred Stock.
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. NYMT is an internally managed REIT in
the business of acquiring, investing in, financing and managing
primarily mortgage-related and single-family and multi-family
residential assets.
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 its 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. These forward-looking statements are subject to risks
and uncertainties, including, among other things, those described
in the Company's Annual Report on Form 10-K for the year ended
December 31, 2020 under “Item 1A. Risk Factors.” Other risks,
uncertainties, and factors that could cause actual results to
differ materially from those projected may be described from time
to time in reports the Company files with the Securities and
Exchange Commission, including reports on Forms 10-Q and 8-K. The
Company undertakes no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events, or otherwise.
For Further Information
CONTACT: AT THE COMPANYPhone: 212-792-0107Email:
InvestorRelations@nymtrust.com
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