10-K: Cherry Hill Mortgage Investment Corp. Amends At-Market Issuance Sales Agreements

Cherry Hill Mortgage Investment Corporation has amended its at-market issuance sales agreements with both JMP Securities LLC and B. Riley Securities, Inc., updating references and contact information.

Summary

• Cherry Hill Mortgage Investment Corporation has amended its existing at-market issuance sales agreements with JMP Securities LLC and B. Riley Securities, Inc.
• The amendments update references to the registration statement, prospectus supplement, and alternative sales agreement.
• The amendments also revise contact information for company and agent counsel, as well as notice parties.
• The aggregate cap on agent counsel fees and disbursements is set at $75,000 for both agreements.
• The amendments confirm that all other provisions of the original agreements remain in full force and effect.

Sentiment

Score: 7

Explanation: The document is a routine update to existing agreements, indicating a neutral to slightly positive sentiment due to the maintenance of operational readiness.

Positives

• The amendments clarify and update key references and contact information within the sales agreements.
• The fee cap for agent counsel provides cost certainty.
• The updated notice parties ensure proper communication channels.

Risks

• The document primarily addresses administrative updates to existing agreements and does not present any new risks.
• Failure to adhere to the updated terms could lead to disputes or breaches of contract.

Future Outlook

The document does not contain any forward-looking statements regarding future performance or expectations.

Industry Context

This type of amendment is common in the financial industry to update legal agreements as circumstances change, such as changes in counsel or registration statements.

Comparison to Industry Standards

• The use of at-market issuance sales agreements is a standard practice for companies looking to raise capital.
• The amendments are typical for maintaining up-to-date legal documentation.
• The fee cap for agent counsel is a common practice to control costs.

Stakeholder Impact

• The amendments ensure that the company can continue to access capital markets efficiently.
• The updated contact information ensures that all parties are properly informed.

Key Dates

Keywords

at-market issuance, sales agreement, amendment, registration statement, prospectus supplement, placement shares, Mayer Brown LLP, Cozen O'Connor P.C., B. Riley Securities, JMP Securities