Business Context and Reporting Period
This Form 8-K Current Report was filed by Cherry Hill Mortgage Investment Corporation on August 26, 2021. The filing primarily addresses amendments to the Company's At Market Issuance (ATM) Sales Agreements with JMP Securities LLC and B. Riley Securities, Inc.
Key Financial Metrics
The filing does not provide standard financial performance metrics such as revenue, profit, cash flow, margins, or debt levels. The only financial figures disclosed relate to the Company's equity issuance program:
- Total ATM Program Capacity: $50.0 million in common stock.
- Amount Previously Issued: Approximately $19.6 million.
- Remaining Capacity Under New Prospectus: Up to $30.4 million.
Material Changes
The material change reported is the amendment of the Sales Agreements dated August 31, 2018. The amendments update the legal framework for future stock sales to align with a new Registration Statement on Form S-3 (Registration No. 333-251078), which was declared effective by the SEC on August 6, 2021. Consequently, the Company filed a new prospectus supplement dated August 25, 2021, to govern the sale of the remaining $30.4 million in shares.
Guidance, Outlook, and Risks
The filing contains no management commentary regarding future financial guidance, operational outlook, or specific risk factors. The document is a procedural disclosure regarding the mechanics of the Company's equity distribution program and includes the legal opinion of Venable LLP as an exhibit.
Investor Verification Checklist
- Verify the effective date of the new Form S-3 Registration Statement (No. 333-251078) to confirm the legal basis for future sales.
- Confirm the exact amount of common stock issued under the prior prospectus versus the new prospectus supplement.
- Review the terms of the amended Sales Agreements with JMP Securities LLC and B. Riley Securities, Inc. for any changes in commission structures or termination rights.
- Check subsequent filings to monitor the actual utilization of the remaining $30.4 million issuance capacity.