Terra Property Trust completes exchange offer; 66.4% of 6% notes tendered for 11% secured notes

Terra Property Trust, Inc.

$36,208,750 principal of Existing 6.00% Senior Notes due 2026 tendered (66.4% of total outstanding).
Each $1,000 Existing Note exchanged for new 11.00% Senior Secured Notes due July 1, 2027 plus cash.
New secured notes extend maturity by one year; coupon increased from 6% to 11%.
Ladenburg Thalmann served as dealer manager; D.F. King as exchange agent.
Exchange offer expiring June 26, 2026; consummation subject to conditions.

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