Angel Oak Mortgage Announces Initial Public Offering

Angel Oak Mortgage announced its initial public offering of 7,200,000 shares of its common stock at $19 per share. The company’s common stock is expected to be traded on the New York Stock Exchange on June 17, 2021, under the AOMR symbol and will close on June 21, 2021. 

Underwriters have been granted a 30-day option for an additional 1,080,000 shares of its common stock. Additionally, the company will sell 2,105,263 shares of its common stock to CPPIB Credit Investments Inc in a concurrent private placement for $19 per share. 

The net profit from the private offering and private placement to acquire non-QM mortgage loans and other target assets sourced from affiliates of Angel Oak Capital Advisors, LLC. 

The joint booking managers for the offering are Wells Fargo Securities, BofA Securities, Morgan Stanley and UBS Investment Bank. The book-runner for the offering is B. Riley Securities, and Nomura and Oppenheimer & Co acting as co-managers. 

For more information on Angel Oak Mortgages' initial public offering, visit https://angeloakms.com/.