ANGEL OAK MORTGAGE, INC. : Entry into a Material Definitive Agreement, Completion of Acquisition or Disposition of Assets, Financial Statements and Exhibits (form 8-K)

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.

On November 18, 2022, Angel Oak Mortgage, Inc. (the “Company”) along with its
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
Purple Orchid Trust (“Buyer”), whereby the Company sold, on a servicing released
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 $343.4 million and
approximately $349.7 million, respectively.

The purchase price for the mortgage loans being acquired by the Buyer was $284.2
million
and was calculated as equal to the sum of (A) the product of (i) the
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
loan.

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 November 18, 2022, the
second tranche conveyed on November 23, 2022 and the remainder to be conveyed
prior to end of December 2022.

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
Regulation S-K.

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