Angel Oak Mortgage REIT, Inc. (AOMR): M&A transaction — Angel Oak Mortgage sells $343.4M UPB non-QM loans to Purple Orchid Trust at discount

Angel Oak Mortgage REIT, Inc.

Total unpaid principal balance of $343.4M; net book value $349.7M; purchase price $284.2M.
Loans are non-QM and investor cash flow residential mortgage loans, weighted avg coupon ~4.5%.
Sale is servicing released; conveyance in tranches through December 2022.
Purchase price represents a discount to net book value, implying a loss on sale.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Angel Oak Mortgage REIT, Inc. completed a disposition involving Purple Orchid Trust for $284.2 million (closed 2022-11-18).

Action: disposition
Counterparty: Purple Orchid Trust
Consideration: $284.2 million
Closing: 2022-11-18

Exact text from the filing

and net book value of approximately $343.4 million and approximately $349.7 million, respectively. The purchase price for the mortgage loans being acquired by the Buyer was $284.2 million and was calculated as equal to the sum of (A) the product of (i) the stated principal balance of each mortgage loan and (ii) the related purchase price percentage plus (B)

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Angel Oak Mortgage REIT, Inc. filing history →

Source: SEC EDGAR

accession 0001766478-22-000136

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