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Angel Oak Mortgage REIT, Inc. Announces Pricing of Public Offering of Senior Notes
Angel Oak Mortgage REIT, Inc. (NYSE: AOMR) (the “Company”) today announced that it has priced an underwritten public offering of $40,000,000 aggregate principal amount of its 9.750% Senior Notes due 2030 (the “Notes”). The Notes will be fully and unconditionally guaranteed on a senior unsecured basis by Angel Oak Mortgage Operating Partnership, LP through which the Company holds substantially all of its assets and conducts its operations. The Notes will be issued in minimum denominations and integral multiples of $25.00. The Company has granted to the underwriters a 30-day over-allotment option to purchase up to an additional $6,000,000 aggregate principal amount of the Notes at the public offering price, less the underwriting discount. The Company intends to use the net proceeds from the offering for general corporate purposes, which may include the acquisition of non-qualified residential mortgage loans and other target assets primarily sourced from its affiliated proprietary mortgage lending platform or other target assets through the secondary market in a manner consistent with the Company’s strategy and investment guidelines.
RBC Capital Markets, LLC, UBS Investment Bank, Wells Fargo Securities, LLC and Piper Sandler & Co. are serving as joint book-running managers for the offering. B. Riley Securities, Inc. and Janney Montgomery Scott LLC are serving as co-managers for the offering.
The offering is expected to close on May 21, 2025 and is subject to the satisfaction of customary closing conditions. The Company intends to apply to list the Notes on the New York Stock Exchange under the symbol “AOMD” and, if the application is approved, trading is expected to commence within 30 days of the closing of the offering.
The offering is being made pursuant to an effective shelf registration statement and prospectus and related prospectus supplement, a copy of which, when available, may be obtained free of charge at the SEC’s website at www.sec.gov or from the underwriters by contacting: RBC Capital Markets, LLC at (866) 375-6829 (toll-free), UBS Investment Bank at (833) 481-0269 (toll-free), Wells Fargo Securities, LLC at (800) 645-3751 (U.S. toll-free) and Piper Sandler & Co. by emailing [email protected].
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the Company’s securities, nor shall there be any sale of the Company’s securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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