(RTTNews) - Thursday, Angel Oak Mortgage REIT, Inc. (AOMR) announced that it will begin an underwritten public offering of senior notes, due 2029.
These Notes will be guaranteed on a senior unsecured basis by Angel Oak Mortgage Operating Partnership, LP, the entity that holds most of the Company's assets and conducts its operations.
The Company intends to use the majority of the net proceeds from the offering for general corporate purposes. This may involve acquiring 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.
Additionally, the Company plans to use the net proceeds from the offering to repurchase $5.0 million to $20.0 million of shares of its common stock held by Xylem Finance LLC, an affiliate of Davidson Kempner Capital Management LP.
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