IMH - IMH STOCK NEWS

Impac Mortgage Holdings, Inc. (IMH) has initiated exchange offers and a consent solicitation for its outstanding Series B and Series C Preferred Stock. Holders of Series B Preferred Stock may receive $3.00 in cash or 30 shares of a new Series D Preferred Stock, while Series C holders can receive $0.10 in cash or one share of the new Series D Preferred Stock plus other incentives. As of September 6, 2022, 68% of Series B and nearly 65% of Series C shareholders consented. The offers end on October 20, 2022, subject to conditions including voting agreements from common stockholders.

Impac Mortgage Holdings, Inc. (NYSE American: IMH) has been notified by NYSE American of non-compliance with listing requirements due to stockholders’ equity of approximately $3.5 million as of June 30, 2022, and reported losses for five consecutive years. The company must submit a compliance plan by September 26, 2022, to avoid delisting by February 26, 2024. Non-compliance designation will be marked by an added ‘.BC’ to the stock symbol. The situation does not currently impact business operations or reporting obligations.

Impac Mortgage Holdings, Inc. (NYSE American: IMH) reported a net loss of $13.5 million, or $0.64 per diluted share, for Q2 2022, worsened from a $8.9 million loss in Q2 2021. Adjusted loss was $15.4 million, reflecting a significant drop in loan sales due to market pressures from rising interest rates and low housing inventory. Total originations fell 79% to $128.1 million compared to $611.5 million in Q2 2021. Operating expenses decreased by 25% to $14.7 million as the company adjusted to current market conditions. Despite cash reserves increasing to $61.2 million, the overall business remains challenged.

Impac Mortgage Holdings, Inc. (AMEX: IMH) has scheduled a conference call and live webcast for August 12, 2022, at 6:00 a.m. P.T. to discuss its second quarter 2022 financial results, which will be released post-market on August 11, 2022.

The call will include a Q&A session. Interested parties can participate by calling (800) 715-9871, conference ID: 4914370. The webcast can be accessed via the company's Investor Relations page.

Impac Mortgage Holdings (NYSE: IMH) reported financial results for Q1 2022, showing a net loss of $(1.2) million, or $(0.07) per diluted share, a significant drop from a loss of $(683) thousand in Q1 2021. Core losses increased to $(13.0) million from $(262) thousand year-over-year. Revenues decreased by 65% to $7.2 million, primarily due to a $14.2 million decline in loan sales amidst rising interest rates. Total originations were $482.1 million, down 43% from the prior year. Cash increased to $70.6 million, benefiting from a $37.5 million legacy securitization sale.

Impac Mortgage Holdings, Inc. (NYSE American: IMH) will hold a conference call and live webcast on May 13, 2022, at 6:00 a.m. P.T. to discuss its first quarter 2022 financial results. The results will be available after market close on May 12, 2022. Participants can join the call by dialing (844) 265-1560 with conference ID 9115489. The call will include a Q&A session, and questions can be submitted via email. Archived access will be available on the company's website shortly after the call.

Impac specializes in mortgage lending, servicing, and real estate solutions.

Impac Mortgage Holdings reported financial results for the year ended December 31, 2021. The company achieved a net earnings of $3.6 million ($0.15 per share), a turnaround from a net loss of $2.2 million in Q4 2020. For 2021, net loss was $3.9 million compared to $88.2 million in 2020. Total revenues increased to $66.3 million with significant gains in loan sales and a strategic focus on NonQM originations, which constituted 24% of total originations. However, the company faced rising operational costs and fluctuations in market conditions. Cash declined to $29.6 million, reflecting operational expenses.

Impac Mortgage Holdings, Inc. (AMEX: IMH) announced a conference call scheduled for March 11, 2022, at 6:00 a.m. P.T. to discuss their year-end 2021 financial results, which will be released post-market on March 10, 2022. A live Q&A session will follow management's remarks. Interested parties can participate by calling (844) 265-1560, conference ID: 3849832, or access via webcast at ir.impaccompanies.com. The call will be archived two hours after.

Impac Mortgage Holdings reported Q3 2021 net earnings of $2.1 million ($0.08/share), up from $1.6 million last year. Core earnings were $810K ($0.04/share), down from $4.4 million in Q3 2020. Total revenues reached $19.8 million, driven by $19.6 million from loan sales, although total expenses rose 23% to $19.8 million. Originations jumped to $682.6 million, a 12% increase from Q2 2021. The NonQM segment saw an 85% rise in originations, showcasing strategic growth. Despite profitability, cash decreased by $12 million, indicating challenges in liquidity management.