TPT and WMC merge to form $1.2B credit-oriented REIT; TPT shareholders to own 76%

Terra Property Trust, Inc.

WMC issues Class B shares to TPT stockholders; exchange ratio 0.785 based on adjusted book values as of March 31, 2023.
Combined company expected to have ~$1.2B assets and ~$436M adjusted book value; TPT shareholders own ~76%.
Vik Uppal (TPT CEO) to lead combined company as CEO and Chairman; board of eight with six TPT-designated directors.
Transaction expected to close Q4 2023, subject to stockholder approvals; Mavik commits up to $4M share purchase.
WMC valued at 100% of adjusted book (~$106M) vs. ~$56M market cap prior to announcement.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.