BuybackMay 20, 2026, 04:38 PM
Angel Oak Mortgage REIT $15M Stock Buyback; Director Resigns
AI Summary
Angel Oak Mortgage REIT, Inc. has entered into a Stock Repurchase Agreement to buy back $15.0 million of its common stock from Xylem Finance LLC. The repurchase price is set at the ten-trading-day volume-weighted average price less a 3.00% discount. This transaction is conditioned upon the resignation of Mr. Vikram Shankar, a director nominated by Xylem, from the Company's Board of Directors, which occurred on May 20, 2026. Concurrently, the Shareholder Rights Agreement with Xylem will terminate, and Xylem will waive certain registration rights, signifying a reduction in its influence over the company.
Key Highlights
- Angel Oak Mortgage REIT to repurchase $15.0 million of common stock from Xylem Finance LLC.
- The repurchase price per share is the 10-day volume-weighted average price less a 3.00% discount.
- Mr. Vikram Shankar resigned from the Company's Board of Directors, effective May 20, 2026.
- The Shareholder Rights Agreement with Xylem will terminate upon the closing of the repurchase.
- Xylem Finance LLC will permanently waive its demand and shelf registration rights.
- The Board of Directors size was reduced from eight to seven directors.
Price Impact
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