Lument Finance Trust closes rights offering raising $83.5M; amends credit agreement leverage covenant

Lument Finance Trust, Inc.

Raised $83.5M gross from issuance of 27,277,269 shares at $3.06/share in transferable rights offering.
Net proceeds to be used to acquire commercial real estate mortgage loans and for general corporate purposes.
Board waived ownership limits for OREC (manager affiliate) with a 27.4% limit; general limit decreased to 8.75%.
Fourth amendment to credit agreement modifies maximum total net leverage ratio financial covenant.
Rights offering expired Feb 11, 2022; shares issued Feb 22, 2022.

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