New York Mortgage Trust Announces Public Offering of Common Stock

06 Jan 2014

NEW YORK, Jan. 6, 2014 (GLOBE NEWSWIRE) -- New York Mortgage Trust, Inc. (Nasdaq:NYMT) ("NYMT" or the "Company") announced today that it plans to make a public offering of 10,000,000 shares of its common stock. NYMT also expects to grant the underwriters an option to purchase up to an additional 1,500,000 shares of common stock. UBS Securities LLC, Barclays Capital Inc. and Credit Suisse Securities (USA) LLC will serve as joint bookrunning managers for the offering. Keefe, Bruyette & Woods, Inc. and RBC Capital Markets, LLC are serving as co-lead managers for the offering.

NYMT intends to use a majority of the net proceeds of this offering to acquire distressed residential loans and the remainder of the net proceeds to invest in multi-family CMBS, mezzanine loans to and preferred equity investments in owners of multi-family properties and certain of its other targeted assets. The Company may also use a portion of the net proceeds for general working capital purposes, including the repayment of indebtedness.

All shares of common stock will be offered under NYMT's existing shelf registration statement, which was declared effective by the Securities and Exchange Commission on January 28, 2013. The offering of these shares will be made only by means of a prospectus and a related prospectus supplement, which will be filed with the Securities and Exchange Commission. Copies of the prospectus and prospectus supplement related to this offering may be obtained, when available, from UBS Securities LLC, Attention: Prospectus Department, 299 Park Avenue, New York, New York 10171, Telephone: (888) 827-7275, Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by calling (888) 603-5847, or by emailing [email protected], and Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY, 10010, Telephone: (800) 221-1037, or by emailing [email protected].

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 ("REIT"). The Company invests in mortgage-related and financial assets and targets multi-family CMBS, direct financing to owners of multi-family properties through mezzanine and preferred equity investments, residential mortgage loans, including loans sourced from distressed markets, Agency RMBS consisting of fixed-rate, adjustable-rate and hybrid adjustable-rate RMBS and Agency IOs consisting of interest only and inverse interest-only RMBS that represent the right to the interest component of the cash flow from a pool of mortgage loans.

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 consummated, or that the net proceeds of the offering will be used as indicated. Consummation of the offering 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, 2012, 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: AT THE COMPANY
         Kristine R. Nario
         Investor Relations
         Phone: (646) 216-2363
         Email: [email protected]

Source: New York Mortgage Trust, Inc.

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