AG Mortgage exchanges three series of preferreds for common shares

By Taylor Fox

New York, Sept. 14 – AG Mortgage Investment Trust, Inc. announced the final results of its offer to exchange up to 6,818,350 newly issued shares of its common stock for up to 250,470 shares of its 8.25% series A cumulative redeemable preferred stock (Cusip: 001228204), up to 556,000 shares of its 8% series B cumulative redeemable preferred stock (Cusip: 001228303) and up to 556,600 shares of its series C fixed-to-floating rate cumulative redeemable preferred stock (Cusip: 001228401), according to a news release.

A total of 42,820 shares of series A preferreds, 31,085 series B preferreds and 29,355 series C preferreds were tendered prior to the expiration of the offer at 11:59 p.m. ET Sept. 11.

AG Mortgage accepted all 103,260 validly tendered shares and is issuing in exchange a total of 516,300 shares.

After settlement, AG Mortgage will have outstanding 34,750,901 shares of common stock, 2,027,180 shares of series A preferreds, 4,568,915 shares of series B preferreds and 4,570,645 shares of series C preferreds.

Settlement is expected to be made on Sept. 15.

AG Mortgage is a New York City-based real estate investment trust.

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