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Angel Oak Mortgage Officially Announces The Launch Of Its IPO


Angel Oak Mortgage Officially Announces The Launch Of Its IPO
Navi Persaud
Jun 09, 2021
Angel Oak Mortgage, Inc. officially announced the launch of its initial public offering as well as the IPO price per share.
Angel Oak Mortgage, Inc. officially launched its initial public offering of 8,050,000 shares of its common stock pursuant to a registration statement on Form S-11 filed with the Securities and Exchange Commission. The initial public offering price is expected to be between $20.00 and $21.00 per share.
According to a press release, company expects to grant the underwriters a 30-day option to purchase up to an additional 1,207,500 shares of its common stock. The company’s common stock has been approved for listing, subject to official notice of issuance, on the New York Stock Exchange under the symbol “AOMR.” Angel Oak Mortgage filed for its IPO in late May 2021. ....

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Angel Oak Mortgage Files For An IPO


Angel Oak Mortgage Files For An IPO
Navi Persaud
Filing documents reveal an initial placeholder value of $150 million.
“The company s loans are primarily sourced from Angel Oak’s proprietary mortgage lending platform, Angel Oak Mortgage Lending, and had total assets of $535 million and a non-QM loan portfolio of $481 million as of March 31, 2021,“ according to Renaissance Capital. “Angel Oak Mortgage’s loan portfolio had a FICO score of 715 and a weighted average down payment of $100,000 as of the date of origination and deal date of each underlying loan.“
The company stated that its objective is to generate attractive risk-adjusted returns for its stockholders through cash distributions and capital appreciation across interest rate and credit cycles, according to its filing with the U.S. Securities and Exchange Commission. ....

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