MITT to acquire WMC in stock/cash deal valued at $11.23 per share, 34% premium

TPG Mortgage Investment Trust, Inc.

WMC stockholders receive 1.5 MITT shares + $1.12 cash per share; total value $11.23 based on MITT's Aug. 7 close.
Angelo Gordon to provide up to $7M cash consideration; $2.4M management fee waived for first year post-close.
Pro forma combined portfolio of $5.7B, 86% Non-Agency residential loans; expected annual cost synergies of $5-7M.
MITT shareholders expected to own ~69% of combined company; WMC shareholders ~31%.
Transaction unanimously approved by both boards; expected to close Q4 2023 subject to stockholder approvals.

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