Item 1.01. Entry into a Material Definitive Agreement.
The information required by Item 1.01 contained in Item 2.01 of this Current
Report on Form 8-K is incorporated herein by reference.
Item 2.01. Completion of Acquisition or Disposition of Assets.
subsidiary, Angel Oak Mortgage Fund TRS (the “Seller”), entered into a Mortgage
Loan Purchase and Sale Agreement (“MLPA”) and Bill of Sale (“Bill of Sale”) with
basis, certain non-QM and investor cash flow residential mortgage loans with a
gross weighted average coupon of approximately 4.5%, and a total unpaid
principal balance and net book value of approximately
The purchase price for the mortgage loans being acquired by the Buyer was
stated principal balance of each mortgage loan and (ii) the related purchase
price percentage plus (B) accrued and unpaid interest at the related mortgage
interest rate from the last paid-through date (as identified in the mortgage
loan schedule) to the day prior to the related closing date for each mortgage
The conveyance to the Buyer of the mortgage loans is scheduled to take place in
a series of tranches, with the first tranche conveyed on
second tranche conveyed on
prior to end of
A copy of the MLPA is attached hereto as Exhibit 10.1 and incorporated herein by
reference. A copy of the Bill of Sale is attached hereto as Exhibit 10.2 and
incorporated herein by reference. In accordance with item 601(b)(10) of
Regulation S-K, certain private or confidential items have been redacted from
the filed copy of Exhibit 10.2.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits Exhibit No. Exhibit 10.1 Mortgage Loan Purchase and Sale Agreement by and among Angel Oak Mortgage Fund TRS, Angel Oak Mortgage, Inc., and Purple Orchid Trust, dated November 18, 2022 Exhibit 10.2 * Bill of Sale by and among Angel Oak Mortgage Fund TRS, Angel Oak Mortgage, Inc., and Purple Orchid Trust, dated November 18, 2022 Exhibit 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
* Portions of this exhibit are redacted pursuant to Item 601(b)(10)(iv) of
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