Company: AOMN
Filing Date: 2025-05-16
Form Type: 424B5
Source: 0001104659-25-050029
Chunk: 9

Company: Angel Oak Mortgage REIT, Inc.
Filing Date: 2025-05-16
Form: 424B5
Chunk 9
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 LP and not to any of its subsidiaries.

Issuer

Angel Oak Mortgage REIT, Inc., a Maryland corporation.

Guarantor

Angel Oak Mortgage Operating Partnership, LP, a Delaware limited partnership.

Securities

$40,000,000 principal amount of 9.750% senior notes due 2030 (plus up to an additional $6,000,000 principal amount pursuant to the underwriters’ over-allotment option to purchase additional notes).

Maturity date

June 1, 2030, unless earlier redeemed.

Interest rate

9.750% per year, accruing from, and including May 21, 2025 and will be payable quarterly in arrears on March 1, June 1, September 1 and December 1 of each year, beginning on September 1, 2025.

Price to public

$25 per note.

Ranking

The notes will be our senior direct unsecured obligations. The notes will:

•

rank equal in right of payment to any of our existing and future unsecured and unsubordinated indebtedness;

•

be effectively subordinated in right of payment to any of our existing and future secured indebtedness to the extent of the value of the assets securing such indebtedness; and

•

be structurally subordinated to all existing and future indebtedness and other liabilities (including trade payables) and (to the extent not held by us) preferred stock, if any, of our subsidiaries other than the Guarantor and of any entity we account for using the equity method of accounting.

As of March 31, 2025, we had total consolidated recourse indebtedness to third parties (excluding trade payables and other liabilities) of $556.8 million, $508.9 million of which was secured indebtedness to which the notes would have ranked effectively junior and $360.5 million of which was indebtedness of our subsidiaries that do not guarantee the notes to third parties to which the notes would have been structurally subordinated. As of March 31, 2025, we had total consolidated non-recourse indebtedness to third parties of $1.6 billion, all of which was secured indebtedness to which the notes would have ranked effectively junior and our subsidiaries that do not guarantee the notes had no non-recourse indebtedness. Our subsidiaries had no preferred stock outstanding.

Our subsidiaries are separate and distinct legal entities and, except for the Guarantor that guarantees the notes, have no obligation, contingent or otherwise, to pay any amounts due on the notes