Company: AOMN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001766478-25-000080
Chunk: 15

Company: Angel Oak Mortgage REIT, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 1
Chunk 15
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2024(in thousands)Multinational Bank 1 (1)Average Daily SOFR1.65% - 2.10%$77,603 $100,711 Global Investment Bank 2 (2)1 month Term SOFR1.75% - 3.35%143 15,111 Global Investment Bank 3 (3)Compound SOFR1.90% - 4.75%40,873 13,637 Total$118,619 $129,459 (1)     On June 24, 2025, this financing facility was extended through December 25, 2025 in accordance with the terms of the agreement, which contemplates six-month renewals. The interest rate pricing spread remained unchanged from the prior extension at a range from 1.65% to 2.10%. (2)     On March 28, 2024, the Company and two of its subsidiaries terminated the existing facility with Global Investment Bank 2 and the Company and two different subsidiaries entered into a new facility with Global Investment Bank 2 wherein the Company is guarantor, one of the subsidiaries is seller and Global Investment Bank 2 is buyer. This updated facility is extended through March 27, 2026. On October 25, 2024, the facility was amended to, among other changes, reduced the interest rate pricing spread to a range from 1.75% and 3.35%; prior to this amendment, the interest rate pricing spread was a range from 2.10% and 3.45%.(3)     On November 1, 2024, the facility’s termination date was extended to November 1, 2025.  In addition, the interest rate pricing spread was reduced to a range from 1.90% to 4.75% and the index spread adjustment of 20 basis points was eliminated; prior to this extension, the interest rate pricing spread was a range from 2.00% to 4.50%. The following table sets forth the total unused borrowing capacity of each financing line as of June 30, 2025:Note PayableBorrowing CapacityBalance OutstandingAvailable Financing(in thousands)Multinational Bank 1$600,000 $77,603 $522,397 Global Investment Bank 2250,000 143 249,857 Global Investment Bank 3200,000 40,873 159