Company: AOMN
Filing Date: 2025-03-24
Form Type: 10-K
Source: 0001766478-25-000019
Chunk: 195

Company: Angel Oak Mortgage REIT, Inc.
Filing Date: 2025-03-24
Form: 10-K
Item: Item 8
Chunk 195
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 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 range of 1.75% and 2.10% 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, with an original maximum facility limit of $250.0 million. In connection with the execution of the new facility the interest rate pricing spread was reduced 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 for the first six (6) months of dwell time, 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% to 4.75% and the index spread adjustment of 20 basis points was eliminated.The following table sets forth the total unused borrowing capacity of each financing line as of December 31, 2024:Line of Credit (Note Payable)Borrowing CapacityBalance OutstandingAvailable Financing(in thousands)Multinational Bank 1$600,000 $100,711 $499,289 Global Investment Bank 2250,