Company: AOMN
Filing Date: 2025-03-24
Form Type: 10-K
Source: 0001766478-25-000019
Chunk: 154

Company: Angel Oak Mortgage REIT, Inc.
Filing Date: 2025-03-24
Form: 10-K
Item: Item 7
Chunk 154
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 details of our financing lines as of each of December 31, 2024 and 2023:

Interest Rate Pricing SpreadDrawn AmountLine of Credit (Note Payable)Base Interest RateDecember 31, 2024December 31, 2023($ in thousands)Multinational Bank 1 (1)Average Daily SOFR1.75% - 2.10%$100,711 $206,183 Global Investment Bank 2 (2)1 month SOFR1.75% - 3.35%15,111 — Global Investment Bank 3 (3)Compound SOFR1.90% - 4.75%13,637 84,427 Total$129,459 $290,610 

(1)     On June 24, 2024 this facility was amended with an updated interest pricing spread of 1.75% and extended until December 26, 2024. On December 23, 2024, the loan financing facility was extended through June 25, 2025, in accordance with the mechanism for six-month renewal periods.

(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. In connection with the execution of the new facility the interest rate pricing spread was reduce to a range between 2.10% and 3.35%. On October 25, 2024, the facility was amended to, among other changes, reduce the pricing spread to a range between 1.75% and 3.35%.

(3)     On November 7, 2023, this facility was renewed for a 12 month term through November 7, 2024 with a maximum borrowing capacity of $200 million and a base interest rate pricing spread of 180 basis points plus a 20 basis points index spread adjustment, with an expiration date of November 7, 2024. On November 1, 2024, the facility’s termination date was extended to November 1, 2025. In addition, the base interest rate spread was reduced to a range from 1.90%.