AG Mortgage Investment Trust, Inc. Announces Public Offering of Common Stock
February 11 2019 - 4:08PM
Business Wire
AG Mortgage Investment Trust, Inc. (NYSE:MITT) (the “Company”)
announced today that it intends to offer 3,000,000 shares of its
common stock in an underwritten public offering. In connection with
the offering, the Company intends to grant the underwriters a
30-day option to purchase up to an additional 450,000 shares of its
common stock. The offering is subject to market and other
conditions, and there can be no assurance as to whether or when the
offering may be completed, or as to the actual size or terms of the
offering.
The Company intends to use the net proceeds from this offering
to fund purchases of residential mortgage loans, commercial
mortgage loans and its target assets in accordance with its
investment objectives and strategies, as well as for other general
corporate purposes.
Morgan Stanley & Co. LLC is acting as sole book-running
manager for the offering. JMP Securities LLC is acting as
co-manager for the offering.
The offering will be made pursuant to the Company’s existing
shelf registration statement, previously filed with the Securities
and Exchange Commission (the "SEC") and which became effective on
May 18, 2018. The offering of these shares is being made only by
means of a prospectus and a related prospectus supplement, which
will be filed with the SEC. Copies of the prospectus and prospectus
supplement related to this offering may be obtained, when
available, by contacting: Morgan Stanley & Co. LLC,
Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New
York, NY 10014; or JMP Securities LLC, 600 Montgomery Street,
10th Floor, San Francisco, CA 94111, Attention: Prospectus
Department, or by calling (415) 835-8985.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy shares of common stock or any other
securities, nor shall there be any sale of these securities 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 real estate
investment trust that invests in, acquires and manages a
diversified portfolio of residential and commercial mortgage
assets, other real estate-related securities, financial assets and
real estate. AG Mortgage Investment Trust, Inc. is externally
managed and advised by AG REIT Management, LLC, a subsidiary of
Angelo, Gordon & Co., L.P., an SEC-registered investment
adviser that specializes in alternative investment activities.
ABOUT ANGELO, GORDON & CO.
Angelo, Gordon & Co., L.P. is a privately held limited
partnership founded in November 1988. The firm currently manages
approximately $32 billion with a primary focus on credit and real
estate strategies. Angelo Gordon has over 490 employees, including
more than 190 investment professionals, and is headquartered in New
York, with offices in the U.S., Europe and Asia.
FORWARD LOOKING STATEMENTS
This press release includes "forward-looking statements" within
the meaning of the safe harbor provisions of the United States
Private Securities Litigation Reform Act of 1995 related to the
public offering of the Company’s common stock, the use of proceeds
related to the offering, and the Company’s investment and portfolio
strategy, among others. Forward-looking statements are based on
estimates, projections, beliefs and assumptions of management of
the Company at the time of such statements and are not guarantees
of future performance. Forward-looking statements involve risks and
uncertainties in predicting future results and conditions. Actual
results could differ materially from those projected in these
forward-looking statements due to a variety of factors, including,
without limitation, changes in interest rates, changes in default
rates, changes in the yield curve, changes in prepayment rates,
changes in the equity markets, the availability and terms of
financing, changes in the market value of our assets, general
economic conditions, conditions in the market for Agency RMBS,
Non-Agency RMBS, ABS and CMBS securities, Excess MSRs and loans,
our ability to integrate newly acquired rental assets into the
investment portfolio, our ability to predict and control costs,
conditions in the real estate market, and legislative and
regulatory changes that could adversely affect the business of the
Company. Additional information concerning these and other risk
factors are contained in the Company's filings with the Securities
and Exchange Commission ("SEC"), including its most recent Annual
Report on Form 10-K and subsequent filings. All information in this
press release is as of February 11, 2019. The Company undertakes no
duty to update any forward-looking statements to reflect any change
in its expectations or any change in events, conditions or
circumstances on which any such statement is based.
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version on businesswire.com: https://www.businesswire.com/news/home/20190211005716/en/
AG Mortgage Investment Trust, Inc.Karen Werbel - Investor
Relations(212) 692-2110ir@agmit.com
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