---
schema_version: "secwatch.filing_event.v1"
accession: "0001514281-23-000089"
form_type: "8-K"
ticker: "MITT"
cik: "0001514281"
company_name: "TPG Mortgage Investment Trust, Inc."
filed_at: "2023-08-09T23:59:59+00:00"
generated_at: "2026-06-11T21:58:28.089255+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# MITT to acquire WMC in stock-plus-cash merger: each WMC share = 1.50 MITT shares plus cash

## Summary
- Each WMC share converts into 1.50 MITT shares plus per-share cash portion of up to $7M from MITT Manager, capped at 9.9% of aggregate consideration.
- MITT Manager will waive $2.4M of management fees in first year post-closing; base management fee reduced by $600k for first four quarters.
- Concurrently, MITT paid $3M termination fee to Terra Property Trust on behalf of WMC to terminate prior merger agreement.
- Merger subject to approvals from both sets of stockholders, SEC registration statement effectiveness, NYSE listing of MITT shares, and other conditions.
- WMC equity awards vest immediately before close; certain director awards adjusted or cancelled pro-rata.

## SEC filing metadata
- accession: 0001514281-23-000089
- form_type: 8-K
- ticker: MITT
- cik: 0001514281
- company_name: TPG Mortgage Investment Trust, Inc.
- filed_at: 2023-08-09T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1514281/000151428123000089/0001514281-23-000089-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1514281/000151428123000089/mitt-20230808.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001514281-23-000089
- JSON: https://secwatch.observer/filing/0001514281-23-000089.json
- Plain text: https://secwatch.observer/filing/0001514281-23-000089.txt

## Key facts
- Material Agreements
  TPG Mortgage Investment Trust, Inc. entered into Agreement and Plan of Merger with Western Asset Mortgage Capital Corporation (effective 2023-08-08).
  - Action: entry
  - Agreement: merger
  - Counterparty: Western Asset Mortgage Capital Corporation
  - Effective: 2023-08-08
  source text: On August 8, 2023, AG Mortgage Investment Trust, Inc., a Maryland corporation (“MITT”), announced it entered into an Agreement and Plan of Merger, dated as of August 8, 2023 (the “Merger Agreement”), with Western Asset Mortgage Capital Corporation, a Delaware corporation (“WMC"), AGMIT Merger Sub, LLC, a Delaware limited liability company and wholly owned subsidiary of MITT (“Merger Sub”), and, solely for the limited purposes set forth in the Merger Agreement, AG REIT Management, LLC, a Delaware limited liability company (“MITT Manager").
  evidence_url: https://www.sec.gov/Archives/edgar/data/1514281/000151428123000089/0001514281-23-000089-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.