other material
confidence high
sentiment neutral
materiality 0.45
Granite Point completes 1-for-10 reverse split; common shares fall from 48.2M to ~4.8M
Granite Point Mortgage Trust Inc.
- Reverse Stock Split took effect 5:00 p.m. Eastern Time on October 5, 2026, converting every ten shares into one; outstanding Common Stock fell from 48,198,166 to approximately 4,819,100 shares.
- Common Stock began trading split-adjusted on the NYSE on October 6, 2026 under existing symbol GPMT, with new CUSIP 38741L 404.
- Previously announced dividend is unaffected: $0.01 per pre-split share, payable October 15, 2026 to stockholders of record at the close of business October 1, 2026.
- Charter amendments filed October 2, 2026 raised par value from $0.01 to $0.10 then restored it to $0.01; fractional shares settled in cash using the October 5 closing price.
- 7.00% Series A preferred stock (GPMTPrA) was not affected by the split; the company says the split is intended to be tax-free for U.S. federal income tax purposes.