MITT closes WMC merger; pro forma shows $45.7M bargain purchase gain, $122.3M pro forma net loss for 2022

TPG Mortgage Investment Trust, Inc.

Each WMC share converted into 1.498 MITT shares plus $0.92 cash from MITT Manager; ~9.2M MITT shares issued.
Total consideration ~$51.3M; preliminary bargain purchase gain of $45.7M recorded.
Pro forma combined total assets $6.09B, total equity $537.8M as of Sep 30, 2023.
Pro forma net loss available to common: ($4.5M) for 9M 2023, ($122.3M) for FY 2022.
MITT Manager waives $1.3M in reimbursable expenses and reduces base fee by $2.4M over four quarters.

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