WMC - Terra Property Trust picks up 5.2% stake in AG Mortgage Investment

2023-07-26 03:51:59 ET

• Terra Property Trust, a REIT externally managed by a Mavik Capital Management unit, acquired ~5.2% of of AG Mortgage Investment Trust's ( NYSE: MITT ) outstanding shares, making it MITT's second-largest shareholder .
• TPT believes AG Mortgage ( MITT ) is undervalued and intends to consider all options to unlock this value, including (but not limited to) a strategic combination involving MITT.
• The shareholder may engage in discussions with AG Mortgage's ( MITT ) management, board, shareholders, and other third parties regarding MITT's business, capital structure and strategic alternatives, among others.
• TPT remains committed to completing its acquisition of Western Asset Mortgage Capital ( WMC ) in Q4.
• Earlier, Western Asset ( WMC ) started merger talks with AG Mortgage Investment .

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