New York Mortgage announces consent solicitation related to senior notes

New York Mortgage (NYMT) Trust is soliciting consents from holders of its outstanding 5.75% Senior Notes due 2026 as of 5:00 p.m. New York City time, on May 30, 2025 to a proposed amendment to the indenture governing such Notes. The Consent Solicitation is being made solely upon the terms and conditions described in the Company’s Consent Solicitation Statement, dated June 2, 2025. The Consent Solicitation will expire at 5:00 p.m., New York City time, on June 12, 2025, unless extended or earlier terminated by the Company. The Company is soliciting consents from the holders of the Notes for a proposed amendment to the Indenture to revise the first sentence of Section 1013 of the Indenture to provide that the Company will not permit the Net Debt to Equity Ratio as of the last day of each fiscal quarter of the Company to be greater than 8.00 to 1.00. The Proposed Amendment is intended to support the continued execution of the Company’s investment strategy, which is focused on generating recurring income. Since the second quarter of 2023, the Company has significantly increased investment activity, targeting assets that are less sensitive to credit deterioration, such as Agency RMBS, and investments with shorter duration and higher yields, such as business purpose loans. This strategy resulted in the acquisition of approximately $4.1 billion in assets during the year ended December 31, 2024, and an additional $1.9 billion in the first quarter of 2025.