Business Context and Reporting Period
This Form 8-K Current Report was filed by New York Mortgage Trust, Inc. (the "Company") on September 10, 2018. The filing reports the entry into a material definitive agreement regarding the Company's equity distribution program. Note: The request metadata references "ADAMAS TRUST, INC.", but the filing text explicitly identifies the registrant as "New York Mortgage Trust, Inc."
Key Financial Metrics and Capital Structure
The filing details the status of the Company's "at-the-market" (ATM) offering program under an Equity Distribution Agreement with Credit Suisse Securities (USA) LLC.
- Total Maximum Aggregate Sales Price: $177,087,818
- Previously Sold: $77,087,818
- Remaining Available for Sale: $100,000,000
The filing does not provide data on revenue, profit, cash flow, operating margins, debt levels, or liquidity ratios.
Material Changes
On September 10, 2018, the Company entered into an amendment to its existing Equity Distribution Agreement. The primary material change is the increase in the maximum aggregate sales price of common stock available under the ATM Program. This amendment allows the Company to continue offering and selling shares up to the remaining $100,000,000 limit through the automatic shelf registration statement filed on August 9, 2018.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future performance, or specific risk factors beyond standard legal disclaimers. The document states that the report does not constitute an offer to sell securities in any jurisdiction where such an offer would be unlawful prior to registration.
Key Facts for Investor Verification
- Verify the exact number of shares sold previously versus the remaining $100,000,000 capacity to assess potential dilution.
- Confirm the current market price of the Company's common stock to estimate the share count associated with the remaining ATM capacity.
- Review the full text of Amendment No. 1 (Exhibit 1.1) for any changes to commission rates or termination clauses not summarized in the 8-K.
- Check subsequent filings to determine if the Company has utilized the remaining $100,000,000 capacity since September 2018.