NEW YORK–(BUSINESS WIRING) – AG Mortgage Investment Trust, Inc. (NYSE: MITT) (the “Company”) announced today that its Board of Directors has unanimously approved a 1: 3 reverse split of the Company’s common shares. The reverse share split is expected to take effect after the close of trading on July 22, 2021 (“ Effective Time “).
Accordingly, at the effective date, every three ordinary shares of the Company issued and outstanding will be converted into one share of ordinary shares of the Company. The common shares of the Company are expected to begin trading on the New York Stock Exchange on a post-split basis starting July 23, 2021 under the new CUSIP number: 001 228 501.
Fractional shares will not be issued due to the reverse share split. Instead, each shareholder holding fractional shares will be entitled to receive, in lieu of such fractional shares, cash in an amount based on the closing price of the Company’s ordinary shares at the effective date. The reverse share split will apply to all outstanding ordinary shares of the Company and will not affect any shareholder’s ownership of the ordinary shares of the Company, except for minor changes arising from the payment of cash for fractional shares. Registered shareholders will receive information from American Stock Transfer & Trust Company, LLC, the Company’s share transfer agent, regarding their ownership of shares after a reverse share split and cash, in lieu of fractional share payments, if applicable.
About AG Mortgage Investment Trust, Inc.
AG Mortgage Investment Trust, Inc. is a hybrid mortgage company REIT that invests in a diversified portfolio of risk-adjusted lending and RMBS agencies. The Company’s loan investments include residential and commercial investments. AG Mortgage Investment Trust, Inc. is outsourced and advised by AG REIT Management, LLC, a subsidiary of Angelo, Gordon & Co., LP, a leading privately held alternative investment firm specializing in lending and real estate strategies.
Additional information can be found on the Company’s website at: www.agmit.com…
About Angelo Gordon
Angelo, Gordon & Co., LP is a private limited liability partnership founded in November 1988. The company currently manages approximately $ 44 billion, with a focus on lending and real estate strategies. Angelo Gordon has over 570 employees, including over 210 investment professionals. The company is headquartered in New York with subsidiaries in the United States, Europe and Asia. For more information visit www.angelogordon.com…
This press release may contain forward-looking statements in accordance with federal securities laws. Forward-looking statements refer to expectations, beliefs, projections, plans and strategies for the future, expected events or trends, and similar statements regarding matters that are not historical facts. In some cases, you may identify forward-looking statements using forward-looking terminology such as may, will, should, expects, intends, plans, expects, believes, estimates , “Predicts” or “potentially” or denies these words and phrases or similar words or phrases that are predictions or indicate future events or trends and that do not relate exclusively to historical issues. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and unforeseen circumstances, many of which are beyond our control, and could cause actual results to differ materially from those expressed in any forward-looking statement. Factors that may cause such a difference include, but is not limited to, the Company’s ability to reverse the share split within the expected time frame and in the manner, whether the Company realizes any expected benefits from the reverse share split, and other risks and uncertainties, including the reports specified in the Company’s annual report on Form 10-K for the year ended December 31, 2020, and other reports that are from time to time filed with the US Securities and Exchange Commission. All forward-looking statements reflect the Company’s good faith beliefs, assumptions and expectations, but are not guarantees of future results. The company warns investors not to rely excessively on any forward-looking statements.
Forward-looking statements are valid only as of the date of this press release. The Company is under no obligation to update any of these forward-looking statements after the date of this press release, nor is it obligated to reconcile previous statements with actual results or revised expectations, and the Company does not intend to do so.