Great Ajax, a mortgage REIT formed by Aspen Capital to own secured re-performing and non-performing loans, filed on Monday with the SEC to raise up to $100 million in an initial public offering. The company's name comes from Ajax the Great, a Greek hero in the Illiad.
Another mortgage REIT, Sutherland Asset Mangement (SLD), set terms on Tuesday and plans to go public during the week of January 12.
The Beaverton, OR-based company, which was founded in 2014 and booked $2 million in sales for the 12 months ended September 30, 2014, plans to list on the NYSE under the symbol AJX. Great Ajax initially filed confidentially on September 23, 2014. FBR Capital Markets is the sole bookrunner on the deal. No pricing terms were disclosed.
