mREIT New York Mortgage Trust Prices New Preferred Issue

New York Mortgage Trust (NYMT) has priced a new issue of perpetual preferred stock.

The issue prices at 7.00% for 3 million shares with another 450,000 available for over-allotments

The company has a number of other preferred issues outstanding which can be seen here.

The company intends to redeem some or all of the series E 7.75% perpetual preferred (NYMTP)

The issue trades immediately under OTC ticker NYMGV.

The pricing term sheet is here.

EarlyBird was on this early yesterday

11 thoughts on “mREIT New York Mortgage Trust Prices New Preferred Issue”

  1. With 3 million+ shares to move, and only 130,000 traded thus far, they may need to get more aggressive with pricing. I wonder if 24 is on the horizon?

  2. Schwab seems to be allowing trades as low as 24.45, but not lower. They look like they are accepted, then don’t show in current orders unless 24.45 or higher. They must be setting limits for this new one.

    1. Funky at Fidelity, too. Says that trades are happening around 24.5, but won’t let me do a limit order.

      1. Yup- wouldn’t take the order thru the reg quick order, so looked it up in the search window- then had to open it to get to the 2d trade symbol. Lots of hoops for no good reason. But- it works.
        Fidelity is prob having problems with new OTC issues. (Nannyware)

      2. I called Fidelity and they fixed the technical glitch – I was able to enter an order and get shares at 24.52.

        1. td ameritrade give me this message

          No opening transactions are allowed on securities affected by amendments to SEC Rule 15c2-11.

            1. They haven’t merged their platforms yet. Probably got too many complaints from td customers saying they don’t want schwab’s system.

              1. So no internal guidance, they go their separate ways on trading policy–sounds like no one is taking control. TD folks get the short straw.

                1. Better on some things worse on others. That’s why I have accounts in different places and when it gets busy I do the two computer technique.

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