Company: AOMN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001766478-25-000080
Chunk: 17

Company: Angel Oak Mortgage REIT, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 1
Chunk 17
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 The unamortized debt issuance costs will be amortized until maturity, which will be no later than June 1, 2030.

15

Angel Oak Mortgage REIT, Inc.Notes to the Condensed Consolidated Financial Statements(Unaudited)

On July 25, 2024, the Company closed an underwritten public offering and sale of, and issued, $50.0 million in aggregate principal amount of its 9.500% Senior Notes due 2029 (the “2029 Notes”). The 2029 Notes bear interest at a rate of 9.500% per annum, payable quarterly in arrears on January 30, April 30, July 30 and October 30 of each year. The 2029 Notes will mature on July 30, 2029, unless earlier redeemed or repurchased by the Company and are held at amortized cost. After deducting the underwriting discount and other debt issuance costs, the Company received net proceeds of approximately $47.5 million.The Company may redeem the 2029 Notes in whole or in part at any time or from time to time at its option on or after July 30, 2026 at a redemption price equal to 100% of the principal amount of the 2029 Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. Upon the occurrence of certain events relating to a change of control of the Company, the Company must make an offer to repurchase all outstanding 2029 Notes at a price in cash equal to 101% of the principal amount of the 2029 Notes, plus accrued and unpaid interest to, but excluding, the repurchase date.The 2029 Notes are fully and unconditionally guaranteed on a senior unsecured basis by the Operating Partnership, including the due and punctual payment of principal of, premium, if any, and interest on the 2029 Notes, whether at stated maturity, upon acceleration, call for redemption or otherwise.At June 30, 2025, the outstanding principal amount of the 2029 Notes was $50.0 million and the accrued interest payable on the 2029 Notes was $0.8 million. At June 30, 2025, the unamortized deferred debt issuance cost was $0.8 million, and the net interest expense recognized in the quarter ended June 30, 2025 was $1.3 million. The unamortized debt issuance costs