AG Mortgage Investment Trust 9.500% Senior Notes due 2/15/2029 (MITN)
NYSE · · CUSIP 001228600
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Security Details

Coupon Rate
9.50%
Liquidation Preference
$25.00
Call Price
$25.00
Call / Redemption Date
2/15/2026
Maturity Date
2/15/2029
Distribution Period
Q
Rate Type
Fixed
Annual Distribution
2.375
Distribution Dates
2/15, 5/15, 8/15 & 11/15
Credit Ratings
Moody's NR · S&P NR (2/16/2024)
Tax-Advantaged Dividends
No

Security Profile

Security Type
Exchange-Traded Debt Security »
CUSIP
001228600
IPO
1/23/2024 · $25.00/share
Parent Company
AG Mortgage Investment Trust (MITT)
Business: AG Mortgage Investment Trust, Inc 9.500% Senior Notes due 2029 redeemable at the issuer's option on or after 02/15/2026 at $25 per note plus accrued and unpaid interest, and maturing 02/15/2029. <p> Interest distributions of 9.50% per annum ($2.375 per annum or $0.59375 per quarter) will be paid quarterly on 2/15, 5/15, 8/15 & 11/15 to holders of record on the record date that will be (__) (NOTE: the ex-dividend date is one business day prior to the record date). <p> Distributions paid by these debt securities are interest and as such 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> Units are expected to trade flat, which means accrued interest will be reflected in the trading price and the purchasers will not pay and the sellers will not receive any accrued and unpaid interest.<p> This security was not rated by Moody’s or S&P at the time of its IPO. This security was rated as BBB- by Egan-Jones Ratings Co.at the date of its IPO. The Notes are unsecured and unsubordinated obligations of the company and will rank equally with all existing and future unsecured and unsubordinated indebtedness of the company. See the IPO prospectus for further information on the debt securities by clicking on the ‘Link to IPO Prospectus’ provided below.
Notes: Jul. 22, 2021-- AG Mortgage Investment Trust, Inc. (NYSE: MITT) (the “Company”) announced today that its previously announced 1-for-3 reverse stock split of common stock was completed following the close of business today. The Company’s common stock will continue to trade on the New York Stock Exchange under the symbol "MITT" and, starting on July 23, 2021, under a new CUSIP number: 001228 501. <p> August 25, 2020 -- AG Mortgage Investment Trust, Inc. (NYSE: MITT) (“MITT” or the “Company”) today announced that it is amending its offer to exchange up to 6,818,350 newly issued shares of its common stock, par value $0.01 per share (the “Common Stock”), for up to 1,363,670 outstanding shares of its Preferred Stock, par value $0.01 per share (the “Preferred Stock”) to specify, for each of the three series of its Preferred Stock. All references in the offer to exchange dated August 14, 2020 (the “Original Offer to Exchange”) to an offer to exchange up to 1,363,670 shares of Preferred Stock, without regard to series, shall now mean offers to exchange up to 250,470 8.25% Series A Cumulative Redeemable Preferred Stock, par value $0.01 per share (“Series A Preferred”), up to 556,600 8.00% Series B Cumulative Redeemable Preferred Stock, par value $0.01 per share (“Series B Preferred”), and up to 556,600 8.000% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, par value $0.01 per share (“Series C Preferred”), subject to proration on a series by series basis as further described in the Supplement to Offer to Exchange dated August 25, 2020

Company Contact

CEO
T.J. Durkin
CFO
Anthony Rossiello
Headquarters
245 Park Avenue, 26th Floor, New York, NY 10167
Phone
212-692-2000
Investor Relations
212-692-2110 · ir@agmit.com
SEC EDGAR Filings
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