New York Mortgage Trust Inc., a new company formed to acquire The New York Mortgage Co., has announced the filing of a registration statement for an initial public offering of common stock.NYMT said it expects to raise net proceeds of $140 million to $160 million, which it plans to use to fund new residential mortgage loan originations, repay certain debt of New York Mortgage, and invest in mortgage-backed securities. Steven B. Schnall, president of New York Mortgage, is the chairman and co-chief executive of NYMT.
NY Mortgage Trust Plans IPO
January 14, 2004, 3:00 p.m. EST 1 Min Read
