|Bid||1.5000 x 900|
|Ask||1.6600 x 1300|
|Day's Range||1.5100 - 1.7000|
|52 Week Range||1.3100 - 8.0300|
|Beta (5Y Monthly)||0.97|
|PE Ratio (TTM)||N/A|
|Earnings Date||May 26, 2020 - May 28, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Apr 04, 2007|
|1y Target Est||N/A|
Impac Mortgage Holdings, Inc. (NYSE American: IMH) (the "Company" or "Impac") announced today that Paul Licon, the Company’s current Chief Accounting Officer / Controller has assumed the position of Chief Financial Officer as part of a planned transition. Mr. Licon, 39, became a Certified Public Accountant in 2008 and has been with Impac since April 2016. Prior to that, he served as a Senior Manager and as a Principal with the accounting firms KPMG and Squar Milner, respectively. Mr. Licon holds a Bachelor of Science degree from the University of Southern California—Marshall School of Business.
Impac Mortgage Holdings, Inc. (NYSE American: IMH) (the "Company"), announced today that the Company has entered into a term sheet with its holders of Convertible Promissory Notes due May 8, 2020 in the original aggregate principal amount of $25 million (the "Notes") to amend and restate certain terms of the Notes. The term sheet provides that (1) the term of the Notes will be extended by an additional six months to November 9, 2020 and (2) the interest rate on the Notes will be reduced from 7.5% to 7.0% per annum from date of issuance. The Notes were originally issued pursuant to a Note Purchase Agreement, dated May 8, 2015, which terms will remain in effect other than as amended by the foregoing. In addition, subject to consummation of the amendment and restatement of the Notes, the holders of the Notes will be issued five-year warrants to purchase up to an aggregate of 212,649 shares of the Company’s common stock at an exercise price equal to 120% of the 20-day weighted average trading price of the Company’s common stock as of the last business day prior to the date of issuance.
Shares of IMPAC Mortgage Holdings Inc. tumbled 16.2% in morning trading Monday, after residential mortgage originator said it was suspending all lending activity for two weeks, citing market disruptions resulting from the novel coronavirus outbreak. "Liquidity constraints are being experienced by, and de-risking mandates are being initiated by, some of the Company's capital markets counterparties that have direct access to the Federal Reserve's funding mechanisms, including certain of the company's warehouse lenders, repurchase counterparties and whole loan investors," the company said in a statement. IMPAC said the lack of communication from one of its whole loan investors has created concern among some of its other capital markets counterparties that the investor might breach its mandatory purchase commitment. Separately, the company said it has satisfied all margin calls, that it has unrestricted cash of about $80 million as of March 27 and is actively engaging with its counterparties to make sure they perform under terms of contracts. The stock has plummeted 56.7% over the past month, while the S&P 500 has lost 12.9%.
Impac Mortgage Holdings, Inc. (NYSE American: IMH) (the Company) announced today that the Company is implementing organizational-wide remote work programs to protect the health and safety of its employee and associates and to comply with recommendations and requirements of various health organizations and state and county officials related to the coronavirus (COVID-19). The Company, headquartered in Orange County, CA, received notice yesterday that the Orange County Public Health Officer issued an order for the ceasing of all non-essential activities effective immediately and until March 31, 2020.
Impac Mortgage Holdings, Inc. (NYSE American: IMH) (the Company) announces its financial results for the quarter and year ended December 31, 2019.
Impac Mortgage Holdings, Inc. (NYSE American: IMH) (the Company), announces the scheduling of a conference call and live webcast on Friday, March 13th, 2020, at 6:00 a.m. P.T. (9:00 a.m. E.T.). We will discuss our year-end 2019 financial results, which are expected to be released after the close of market on Thursday, March 12th, 2020.
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