 Impac Mortgage Holdings, Inc. NYSE American: IMH the Company, announced today that the Company has entered into a term sheet with its holders of Convertible Promissory Notes due May 8, 2020 in the original aggregate principal amount of 25 million the Notes to amend and restate certain terms of the Notes. The term sheet provides that 1 the term of the Notes will be extended by an additional six months to November 9, 2020 and 2 the interest rate on the Notes will be reduced from 7.5 to 7.0 per annum from date of issuance. The Notes were originally issued pursuant to a Note Purchase Agreement, dated May 8, 2015, which terms will remain in effect other than as amended by the foregoing. In addition, subject to consummation of the amendment and restatement of the Notes, the holders of the Notes will be issued five-year warrants to purchase up to an aggregate of 212,649 shares of the Companys common stock at an exercise price equal to 120 of the 20-day weighted average trading price of the Companys common stock as of the last business day prior to the date of issuance. 