Terra Property Trust acquires 5.2% of AG Mortgage

Terra Property Trust announced that it has acquired approximately 5.2% of the outstanding shares of common stock of AG Mortgage (MITT), making TPT the second-largest stockholder of MITT. The company said, “As disclosed in a Schedule 13D filed today by TPT and other reporting persons, TPT believes that MITT is undervalued and intends to consider all options to unlock this value in a constructive manner for its stockholders, including, without limitation, a strategic combination involving MITT. TPT may engage in discussions with members of management and the Board of Directors of MITT, other current or prospective stockholders, industry analysts, investment and financing professionals, equity and debt financing sources, and other third parties regarding a variety of matters relating to MITT, which may include, among other things, its business, management, capital structure and allocation, corporate governance, board composition, strategic alternatives and direction and suggestions for improving its financial and/or operational performance. TPT also may take other steps seeking to bring about changes to increase value for MITT stockholders. TPT remains firmly committed to completing the merger contemplated by its executed merger agreement with Western Asset Mortgage Capital Corporation (WMC) in the fourth quarter of 2023.