NEW YORK–(COMMERCIAL THREAD) – AG Mortgage Investment Trust, Inc. (NYSE: MITT) (the “Company”) today announced that its previously announced 1 for 3 common stock split has been completed after close of business today. The Company’s common shares will continue to trade on the New York Stock Exchange under the symbol “MITT” and, effective July 23, 2021, under a new CUSIP number: 001228 501.
After the close of business on July 22, 2021, the effective date of the reverse stock split, all three issued and outstanding common shares of the Company were converted into one common share of the Company. As a result of the reverse stock split, the number of outstanding common shares of the Company was reduced from 48,510,978 to approximately 16,164,007.
No fractional shares were issued as part of the reverse stock split. Instead, cash will be paid in lieu of any fractional shares that would otherwise have resulted from the reverse stock split. The reverse stock split applied to all outstanding common shares of the Company and therefore did not affect the relative ownership percentage of any shareholder, with the exception of minor changes resulting from the cash payment for fractions of shares. ‘actions. Registered shareholders will receive information from American Stock Transfer & Trust Company, LLC, the Company’s transfer agent, regarding their shareholding as a result of the stock split and cash payments instead of fractional shares, if applicable. Shareholders were not required to take any action to effect the exchange of their shares.
About AG Mortgage Investment Trust, Inc.
AG Mortgage Investment Trust, Inc. is a hybrid mortgage REIT that opportunistically invests in a diversified risk-adjusted portfolio of agency credit and RMBS investments. The Company’s credit investments include residential investments and commercial investments. AG Mortgage Investment Trust, Inc. is managed and externally advised by AG REIT Management, LLC, a subsidiary of Angelo, Gordon & Co., LP, a leading private alternative investment firm specializing in credit strategies and real estate.
Additional information is available on the Company’s website at www.agmit.com.
About Angelo Gordon
Angelo, Gordon & Co., LP is a private limited partnership founded in November 1988. The company currently manages approximately $ 44 billion with a primary focus on credit and real estate strategies. Angelo Gordon has more than 570 employees, including more than 210 investment professionals, and is headquartered in New York City, with associated offices elsewhere in the United States, Europe and Asia. For more information, visit www.angelogordon.com.
This press release may contain forward-looking statements within the meaning of federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions regarding matters that are not historical facts. In some cases, you can identify forward-looking statements by using forward-looking terminology such as “may”, “will”, “should”, “expects”, “intends”, “expects”, “expects”. “,” “Believes”, “estimates”, “predicts” or “potential” or the negative of such words and expressions or similar words or expressions which are predictions or indicate future events or trends and which do not relate only to historical questions. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond our control, and may cause actual results to differ significantly from those expressed in any forward-looking statement. Factors that could cause such a difference include, but are not limited to, whether the Company will realize any of the anticipated benefits of the reverse stock split and 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 its other reports filed from time to time with the United States Securities and Exchange Commission. All forward-looking statements reflect the Company’s beliefs, assumptions and good faith expectations, but they are not guarantees of future performance. The Company cautions investors not to place undue reliance on forward-looking statements.
Forward-looking statements speak only as of the date of this press release. The Company has no obligation to update these forward-looking statements after the date of this press release, nor to comply with any statements made prior to actual results or revised expectations, and the Company does not intend to do so. do.