NEW YORK–(BUSINESS WIRING) – AG Mortgage Investment Trust, Inc. (NYSE: MITT) (the “Company”) announced today that its previously announced 1-to-3 reverse split of common shares was completed after trading closed today. Ordinary shares of the Company will continue to trade on the New York Stock Exchange under the symbol “MITT” and, starting on 23 July 2021, under the new CUSIP number: 001 228 501.
Following the closure of the business on 22 July 2021, when the reverse share split occurs, every three issued and outstanding ordinary shares of the Company were converted into one ordinary share of the Company. As a result of the reverse share split, the number of the Company’s ordinary shares outstanding decreased from 48,510,978 to approximately 16,164,007.
Fractional shares have not been issued due to the reverse share split. Instead, cash will be paid in lieu of any fractional portion that would otherwise result from a reverse stock split. The reverse share split applied to all of the Company’s outstanding ordinary shares and, therefore, did not affect the relative ownership of any shareholder, except for minor changes resulting from the cash payment for fractional shares. Registered shareholders will receive information from American Stock Transfer & Trust Company, LLC, the transfer agent of the Company, regarding their shareholding after the reverse share split and cash, in lieu of fractional share payments, if applicable. Shareholders were not required to take any action to exchange their shares.
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 credit 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. It 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”, “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 could cause such a difference include, without limitation, whether the Company will receive any expected benefits from the reverse share split, as well as other risks and uncertainties, including those detailed 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 against overuse of 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 or to reconcile previous statements with actual results or revised expectations, and the Company does not intend to do so.