AG Mortgage & Western Asset Mortgage set final merger exchange ratio at 1.498; close expected Nov 9

TPG Mortgage Investment Trust, Inc.

Final exchange ratio: 1.498 MITT shares per WMC share, plus up to $7M cash from MITT Manager (lesser of $7M or ~9.9% of aggregate consideration).
Ratio slightly lower than base 1.50 due to transaction expense adjustments as of Sept 30, 2023.
Special stockholder meetings for MITT (Nov 7, 10:00 AM ET) and WMC (Nov 7, 9:00 AM PT) to approve merger.
Expected closing date: November 9, 2023, subject to stockholder approvals and customary conditions.
Any cash difference between $7M and the 9.9% cap will offset reimbursable expenses post-closing.

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