Impac Mortgage Holdings Inc. (OTC: IMPM) Stock In Focus After Latest News

This morning, investors are expected to look into those companies that may have made key announcements this past Friday, and by that token, it may be a good move to take a closer look into Impac Mortgage Holdings Inc. (OTC: IMPM).

The company announced at the time that it had become party to a pair of forbearance agreements into which Impac Mortgage Holdings had entered in connection with its Junior Subordinated Indenture Notes and Convertible Promissory Notes. Both the notes had been amended by way of the first amendment to the forbearance agreements. In this regard, it should be noted that on April 1, the company went into second amendments for each of the forbearance agreements.

Thanks to those amendments, the expiration dates for each of those forbearance agreements have been extended to April 30, 2024. The company also announced in its news release that the original forbearance agreement in relation to the Junior Subordinated Indenture Notes had also included a condition by way of which there could be an automotive extension of the forbearance up until November 1, 2024. The extension could be affected if Impac Mortgage Holdings could manage to secure at least $15 million in the form of additional liquidity from a term loan or revolving credit facility before the end of the forbearance period.

It was also announced that, as part of the second amendment, the volume of liquidity that would be required to bring the automatic extension into effect had been reduced to $10 million. Additionally, the automatic extension forbearance has also been modified and set for December 1, 2024. In light of the latest announcement from Impac Mortgage Holdings, it is going to be interesting to see if the stock can manage to come into the focus of investors this morning and garner any momentum.