MITT's unsolicited bid for WMC deemed superior; WMC gives TPT deadline to revise

TPG Mortgage Investment Trust, Inc.

WMC Board determined MITT's proposal is a 'Parent Superior Proposal' under WMC's merger agreement with TPT.
WMC notified TPT it intends to terminate their merger agreement unless TPT revises its proposal by 11:59 p.m. ET on Aug 3, 2023.
Each WMC share to convert to 1.468 MITT shares plus a cash component from MITT's external manager up to $7M.
MITT's external manager would waive $2.4M of management fees in first year post-closing.
WMC's merger agreement with TPT remains in effect; WMC Board has not withdrawn its recommendation for TPT deal.

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