Low tender uptake on exchange offers; Terra warns of liquidity concerns, hires restructuring advisors

Terra Property Trust, Inc.

Only 3.80% of TPT Notes ($80.4M outstanding) and 0.37% of TIF6 Notes ($38.4M outstanding) tendered as of March 12, 2026.
TIF6 had $0.4M cash vs $38.4M notes due March 31, 2026; company's promissory note to TIF6 ($48.1M) due 2027 not payable on demand.
Company had $33.2M cash; warns insufficient liquidity to repay remaining notes while remaining a going concern.
Hired Portage Point Partners (restructuring banker) and Alston & Bird (restructuring counsel) to evaluate alternatives.

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