Current Report Filing (8-k)
February 01 2022 - 4:21PM
Edgar (US Regulatory)
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2022-01-27
2022-01-27
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant to Section 13 or 15(d)
of
the Securities Exchange Act of 1934
Date
of Report (date of earliest event reported): January 27, 2022
Angel Oak Mortgage, Inc.
(Exact name of registrant
as specified in its charter)
Maryland
|
001-40495
|
37-1892154
|
(State
or other jurisdiction of incorporation
|
(Commission
File
|
(I.R.S.
Employer Identification No.)
|
or organization)
|
Number)
|
|
3344 Peachtree Road Northeast, Suite 1725, Atlanta, Georgia 30326
(Address of Principal Executive
Offices and Zip Code)
Registrant’s telephone
number, including area code: (404) 953-4900
Not Applicable
(Former name or former address,
if changed since last report)
Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):
¨
|
Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
¨
|
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
¨
|
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
|
|
¨
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered
pursuant to Section 12(b) of the Act:
Title
of each class
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Trading
Symbol(s)
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Name
of each exchange on which registered
|
Common
stock, $0.01 par value per share
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AOMR
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New
York Stock Exchange
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Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the
Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
x
If an emerging growth company, indicate by check mark if
the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 13(a) of the Exchange Act.
Item 1.01
|
Entry into a Material Definitive Agreement.
|
On January 27, 2022, a subsidiary (the “Subsidiary”)
of Angel Oak Mortgage, Inc. (the “Company”) and Barclays Bank PLC (“Barclays”) entered into Amendment No. 1 (“Amendment
No. 1”) to the Master Repurchase Agreement by and between the Subsidiary and Barclays (the “Master Repurchase Agreement”).
Pursuant to Amendment No. 1, interest will now accrue on any outstanding balance under the Master Repurchase Agreement at a rate based
on Term SOFR (which is defined as the forward-looking term rate based on the Secured Overnight Financing Rate for a corresponding tenor
of one month). Previously, interest accrued at a rate based on one-month LIBOR. Additionally, pursuant to the terms of Amendment No. 1,
the maximum purchase price permitted under the Master Repurchase Agreement increased to $550.0 million from $400.0 million, which is subject
to reduction to $400.0 million upon the earlier to occur of (1) the issuance of securities pursuant to a securitization of the assets
underlying the Master Repurchase Agreement and (2) March 30, 2022.
A copy of Amendment No. 1 is attached hereto as Exhibit 10.1 and incorporated
herein by reference. In accordance with item 601(b)(10) of Regulation S-K, certain private or confidential items have been redacted from
the filed copy of Amendment No. 1.
Item 9.01
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Financial Statements and Exhibits.
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(d) Exhibits
* Portions of this exhibit are redacted pursuant to Item 601(b)(10)(iv)
of Regulation S-K.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: February 1, 2022
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ANGEL OAK MORTGAGE, INC.
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|
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By:
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/s/ Brandon Filson
|
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Name:
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Brandon Filson
|
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Title:
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Chief Financial Officer and Treasurer
|
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