Share Price of Impac Continues to Rise
The share price of Impac Mortgage Holdings shot up 4% in trading Tuesday morning after rising 15% the day prior.
To date, the company has not commented on the spike in price, but disclosed late Monday that it received notice from the New York Stock Exchange about “unusual trading activity” in its stock.
In a recent filing with the Securities and Exchange Commission, Impac said it is “currently exploring opportunities to obtain additional capital to support the growth of the mortgage servicing portfolio and expansion of its origination platform and volumes.”
It also warned that if it cannot obtain additional capital its recent strong growth may not continue.
The Irvine, Calif.-based Impac is a nonbank that ranks among the top 60 residential funders in the U.S.