Company: AOMN
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001766478-25-000042
Chunk: 15

Company: Angel Oak Mortgage REIT, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 1
Chunk 15
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 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 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 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 Notes at a price in cash equal to 101% of the principal amount of the Notes, plus accrued and unpaid interest to, but excluding, the repurchase date.The 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 Notes, whether at stated maturity, upon acceleration, call for redemption or otherwise.At March 31, 2025, the outstanding principal amount of these Notes was $50.0 million and the accrued interest payable on the Notes was $0.8 million. At March 31, 2025, the unamortized deferred debt issuance cost was $1.3 million, and the net interest expense 

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

recognized in the quarter ended March 31, 2025 was $1.3 million. The unamortized deferred debt issuance costs will be amortized until maturity, which will be no later than July 30, 2029. At December 31, 2024, the outstanding principal amount of these Notes was $50.0 million and the accrued interest payable on the Notes was $0.8 million. At December 31, 2024, the unamortized deferred debt issuance cost was $1.4 million, and the net interest expense recognized in 2024 was $2.2 million. The unamortized deferred debt issuance costs will be amortized until maturity, which will be no later than July 30, 2029.

6.    Due to Broker

The “Due to broker” account on the condensed consolidated balance sheets as of