Business: Granite Point Mortgage Trust, Inc. 7.00% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, liquidation preference $25.per share, redeemable at the issuer's option on or after 11/30/2026 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. <p> Cumulative distributions of 7.00% per annum ($1.75 per annum or $0.4375 per quarter) will be paid quarterly on 1/15, 4/15, 7/15 & 10/15 to holders of record on the record date fixed by the board, not more than 90 days or less than 10 days prior to the payment date (NOTE: the ex-dividend date is the record date). From 01/15/2027 dividends will be paid at a floating rate of the Three-Month SOFR plus 5.83% per annum, provided, however, that in no event shall the Floating Rate be lower than 7.00% per annum. <p> Dividends paid by preferreds issued by REITs are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. <p>This security was not rated by Moody’s or S&P at the time of its IPO. In regard to the payment of distributions and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.