Mortgage REIT Angel Oak (AOMR) has announced pricing on their new issue of $25 notes and it is a super high yield of 9.75%.
There is no OTC trading of baby bonds prior to exchange listing
The pricing term sheet can be read here.
Angel Oak Mortgage REIT Prices New Baby Bond Issue
trades $24.75/$24.80
https://www.finra.org/finra-data/fixed-income/trade-history?cusip=03464Y306&bondType=CA
Where were they trading_ no usual suspects.