03:37 AM EDT, 07/19/2024 (MT Newswires) -- Angel Oak Mortgage (AOMR) said Thursday that it has priced a public offering of $50 million worth of 9.500% senior notes due 2029.

The offering, expected to close July 25, is subject to the satisfaction of customary closing conditions.

The company said it plans to spend net proceeds from the offering for general corporate purposes, including the possible acquisition of non-qualified residential mortgage loans and other assets from its affiliated mortgage lending platform. The company may also use net proceeds from the offering to repurchase about $20 million of its shares from Xylem Finance, an affiliate of Davidson Kempner Capital Management.