AG Mortgage Investment Trust, Inc. Announces Closing of Public Offering of $65 Million Senior Notes

AG Mortgage Investment Trust, Inc. (NYSE: MITT) (the “Company”) announced today that it has closed its previously announced underwritten public offering of $65 million aggregate principal amount of its 9.500% senior notes due 2029 (the “Notes”). The Company has applied to list the Notes on the New York Stock Exchange under the symbol “MITP” and expects trading in the Notes on the New York Stock Exchange to begin on May 20, 2024.

“We are extremely pleased to complete this successful follow-on bond offering, which along with our $34.5 million bond offering in January, effectively puts the legacy WMC convertible note maturity in the rear-view mirror,” said TJ Durkin, Chief Executive Officer and President. “We were proactive in addressing this upcoming September maturity so we can fully focus on continuing to prove to the market the sustainability of our portfolio’s earnings power while also seeking ways to further optimize our capital structure and scale.”

Mr. Durkin added, “The seamless execution of today’s issuance is a testament to the skills and expertise of our advisors. I would like to take this opportunity to acknowledge the hard work and thank everyone involved.”

Morgan Stanley & Co. LLC, RBC Capital Markets, LLC, UBS Securities LLC, Wells Fargo Securities, LLC, Keefe, Bruyette & Woods, Inc. and Piper Sandler & Co. served as joint book-running managers for the offering. Hunton Andrews Kurth LLP acted as legal advisor to MITT. Venable LLP acted as Maryland counsel to MITT. Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor to the joint book-running managers.

The offering was made pursuant to the Company’s currently effective shelf registration statement filed with the Securities and Exchange Commission (the “SEC”).

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Notes or any other securities, nor shall there be any sale of such Notes or any other securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

About AG Mortgage Investment Trust, Inc.

AG Mortgage Investment Trust, Inc. is a residential mortgage REIT with a focus on investing in a diversified risk-adjusted portfolio of residential mortgage-related assets in the U.S. mortgage market. AG Mortgage Investment Trust, Inc. is externally managed and advised by AG REIT Management, LLC, a subsidiary of Angelo, Gordon & Co., L.P., a diversified credit and real estate investing platform within TPG.