Terra Property Trust reaffirms merger with WMC, counters MITT unsolicited bid

Terra Property Trust, Inc.

Combined company expected to have ~$1.2B in assets and $436M adjusted book value.
Implied consideration to WMC shareholders of $15.40/share, an 84% premium to WMC's July 12 close.
Voting agreement with ~80% of TPT shares to vote in favor; lender consents obtained.
TPT stockholders receive WMC Class B shares converting in thirds over 18 months to limit selling pressure.
Mavik committed to purchase up to $4M of WMC Class A shares post-closing to support trading.

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