Impac Mortgage
Holdings, Inc. Announces
Postponement of
Special Meeting of Common Stockholders and
Extension of the
Expiration Date of the Offer to Purchase and Consent Solicitation
to June 29,
2009
Friday, June 19,
2009
Irvine, California
, — 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.
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
