Thornburg Mortgage has received majority consent to amend its preferred stock tender offer, according to a company release.


The amendment changes the requirement that the tender offer for the preferred stock resulting the tender of at least 90% of the aggregate liquidation preference of the company’s outstanding preferred stock.


To successfully complete the tender offer, the company must instead complete a tender of at least 66 2/3% of the aggregate liquidation preference of each series of its outstanding preferred stock.


Under the terms of the tender offer, for each share of Thornburg Mortgage Series C, D, E and F Preferred Stock that is validly tendered and accepted upon expiration of the tender offer, the holder will receive $5.00 in cash and approximately 3.5 shares of common stock.

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