Vinson & Elkins advised New York Mortgage Trust, Inc. in connection with its $269.7 million underwritten public offering of common stock.
New York Mortgage Trust, Inc. (NASDAQ: NYMT) announced that it priced an underwritten public offering of 44,000,000 shares of its common stock for gross proceeds of approximately $269.7 million. The offering was upsized from the previously announced offering of 40,000,000 shares.
Morgan Stanley, J.P. Morgan and UBS Investment Bank acted as joint bookrunning managers for the offering.
The offering closed on February 13, 2020.
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 V&E corporate team was led by partner Chris Green (Picture) with assistance from senior associate Dylan Coons and associates Erin Torrez and Maram Mahajna. Partner Chris Mangin, senior associate Paige Anderson and associate Christina McLeod provided tax advice, while counsel Doug Lionberger provided 1940 Act advice.
Involved fees earner: Paige Anderson – Vinson & Elkins LLP; Dylan Coons – Vinson & Elkins LLP; Christopher Green – Vinson & Elkins LLP; Douglas Lionberger – Vinson & Elkins LLP; Maram Mahajna – Vinson & Elkins LLP; Christopher Mangin Jr. – Vinson & Elkins LLP; Christina McLeod – Vinson & Elkins LLP; Erin Torrez – Vinson & Elkins LLP;
Law Firms: Vinson & Elkins LLP;
Clients: New York Mortgage Trust, Inc. ;