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.

Additional information can be found on the Company’s website at www.agmit.com. The information contained on, or that may be accessed through, our website is not incorporated by reference into, and is not a part of, this document.

About TPG Angelo Gordon

Founded in 1988, Angelo, Gordon & Co., L.P. (“TPG Angelo Gordon”) is a diversified credit and real estate investing platform within TPG. The platform currently manages approximately $80 billion across a broad range of credit and real estate strategies. For more information, visit www.angelogordon.com.

Forward-Looking Statements

This press release contains certain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intended such statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with the safe harbor provisions. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “will,” “should,” “may,” “projects,” “could,” “estimates” or variations of such words and other similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature, but not all forward-looking statements include such identifying words. Forward-looking statements regarding the Company include, but are not limited to, statements regarding the offering and the intended use of proceeds. These forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. The Company believes these factors include, without limitation, the risk factors contained in the Company’s filings with the SEC, including those described in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and in other reports and documents filed by the Company with the SEC from time to time. Copies are available free of charge on the SEC’s website, http://www.sec.gov/. Moreover, other risks and uncertainties of which the Company is not currently aware may also affect the Company’s forward-looking statements and may cause actual results and the timing of events to differ materially from those anticipated. The forward-looking statements made in this press release are made only as of the date of this press release or as of the dates indicated in the forward-looking statements, even if they are subsequently made available by the Company on its websites or otherwise. The Company undertakes no obligation to update or supplement any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances that exist after the date as of which the forward-looking statements were made, except as required by law.

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