IRVINE, Calif., June 19 /PRNewswire-FirstCall/ -- Impac Mortgage Holdings,
Inc. (Pink Sheets: IMPM), a Maryland corporation, or the "Company," today
announced that it is extending the expiration date of its Offer to Purchase
and Consent Solicitation for its 9.375% Series B Cumulative Redeemable
Preferred Stock (Pink Sheets: IMPHP) and 9.125% Series C Cumulative Redeemable
Preferred Stock (Pink Sheets: IMPHO) from 9:00 a.m. on June 26, 2009 to 9:00
a.m. (Eastern Daylight Time) on June 29, 2009, unless further extended or
terminated by the Company.
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In addition, Impac announced that the special meeting of common
stockholders has been postponed and will now be held on June 29, 2009, at
10:00 a.m. (Pacific Daylight Time). The special meeting is being held to
approve amendments to the Company's charter to modify the terms of both of our
Series B Preferred Stock and Series C Preferred Stock. The Company's Board of
Directors recommends a vote FOR approval of the amendments to the charter to
modify the terms of the Preferred Stock.
Common stockholders of record as of the close of business on May 18, 2009
may vote by attending the special meeting of stockholders in person or by
sending in their executed proxy card. Any stockholder who held shares in
"street name" through their broker, bank or other custodian as of the close of
business on May 18, 2009, may also contact such broker, bank or other
custodian to receive proxy materials and vote their shares.
For Additional Information
The Company's Offering Circular dated May 29, 2009, which has been filed
with the Securities and Exchange Commission (the "SEC"), provides further
information about the Offer to Purchase and Consent Solicitation. Impac has
also filed with the SEC a definitive proxy statement and other materials in
connection with the special meeting of common stockholders. Stockholders can
obtain free copies of the Offering Circular and the definitive proxy statement
as well as other filed documents containing information about Impac at
http://www.sec.gov, the SEC's free internet site. Free copies of Impac's SEC
filings are also available on Impac's internet site at
http://www.impaccompanies.com.
American Stock Transfer is the depositary and D.F. King & Co., Inc. is the
information agent for the Offer to Purchase and Consent Solicitation.
Requests for the Offer to Purchase and Consent Solicitation and other
documents relating to the tender offer may be directed to D.F. King & Co.,
Inc. at (212) 269-5550 (for banks and brokers only) or 1-800-269-6427 (U.S.
toll-free). D.F. King & Co., Inc. is also assisting the Company in the
solicitation of proxies for the special meeting.
Other Information
Neither the Company, any officers, employees, member of its board of
directors, the depositary nor the information agent are making any
recommendation to holders of Preferred Stock as to whether to tender or
refrain from tendering their Preferred Stock pursuant to the Offer to Purchase
and Consent Solicitation. Holders of Preferred Stock must make their own
investment decision regarding the Offer to Purchase and Consent Solicitation.
This release is for informational purposes only and is neither an offer to
purchase, a solicitation of an offer to purchase, or a solicitation of the
Preferred Stock or any other securities. The Offer to Purchase and Consent
Solicitation is only being made pursuant to the terms of the tender offer
documents, including the Offering Circular and the related Letters of
Transmittal, each as amended and supplemented from time to time. The Offer to
Purchase and Consent Solicitation is not being made to holders of Preferred
Stock in any jurisdiction in which the making or acceptance thereof would not
be in compliance with the securities, blue sky or other laws of such
jurisdiction.
About the Company
Impac Mortgage Holdings, Inc. which, through its Long Term Investment
Operations, primarily invests in non-conforming mortgage loans and to a lesser
extent small balance commercial and multi-family loans.
For additional information, questions or comments, please call Justin
Moisio in Investor Relations at (949) 475-3988 or email
jmoisio@impaccompanies.com. Web site: www.impaccompanies.com
SOURCE Impac Mortgage Holdings, Inc.
CONTACT:
Justin Moisio,
Investor Relations
of Impac Mortgage Holdings,
Inc.,
+1-949-475-3988,
jmoisio@impaccompanies.com
Web Site: http://www.impaccompanies.com
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