Highest-materiality recent filing
Terra Property Trust completes exchange of 6% notes for 11% secured notes; obtains $25M term loan
Exchanged $36.2M of 6.00% Senior Notes due 2026 for $27.2M of new 11.00% Senior Secured Notes due 2027 plus cash.
Terra Property Trust completes exchange offer; 66.4% of 6% notes tendered for 11% secured notes
$36,208,750 principal of Existing 6.00% Senior Notes due 2026 tendered (66.4% of total outstanding).
Terra Property Trust extends exchange offer deadline to June 25, 2026; notes carry 11% interest
Exchange offer expiration extended to June 25, 2026; new 11.00% Senior Secured Notes due July 1, 2027 exchanged for 6.00% notes.
Exchange offer for 6.00% Senior Notes due June 30, 2026 extended to June 25, 2026; new terms include 11.00% rate, first-lien collateral, shorter maturity.
Terra Property Trust completes exchange of $25.6M in notes due 2026 for 7% secured notes due 2029
Exchanged $24.0M of its 6% notes due 2026 and $1.55M of TIF6 7% notes due 3/31/2026 for new 7% secured notes due 2029.
Only 3.80% of TPT Notes ($80.4M outstanding) and 0.37% of TIF6 Notes ($38.4M outstanding) tendered as of March 12, 2026.
Terra Property Trust reports Q3 2025 GAAP net loss of $6.7M, maintains $0.09 monthly dividend
GAAP net loss of $6.7M ($0.28 per share), driven by reduced interest income from non-performing loans and non-cash charges.
Terra Property Trust reports Q2 2025 GAAP net loss of $9.1M ($0.38/share)
Net loss driven by reduced interest income from non-performing loans and non-cash charges; CECL reserve of $1.4M.
Terra Property Trust reports Q1 net loss of $1.3M, adds $2.1M CECL reserves
GAAP net loss of $1.3M ($0.05/share); driven by reduced interest income from non-performing loans and $2.1M CECL reserve.
Terra Property Trust Q2 2024 net loss $7.5M, pays $0.19 dividend; 96% floating-rate portfolio
GAAP net loss of $7.5M or $0.31 per basic/diluted share; driven by lower interest income on NPLs and non-cash charges.
Extended the revolving credit facility maturity date to December 31, 2024 under the Sixth Amendment.
Terra Property Trust amends three credit facilities, waives covenant, appoints COO
Amends Western Alliance Bank facility: waives Dec 31, 2023 min net worth covenant, reduces credit line, increases coupon rate, extends term.
Terra Property Trust: Fund 5 to distribute 14.9M Class B shares; exploring liquidity options
Fund 5 to distribute 14,912,990.19 Class B shares to members on Dec 29, 2023, representing 61% of outstanding.
TPT merger with WMC terminated; receives $3M termination fee
WMC terminated merger on Aug 8, 2023 after receiving superior proposal from AG Mortgage Investment Trust (MITT).
Terra Property Trust delivers enhanced $15.96/share proposal to WMC, topping MITT's $10.60 offer
TPT offers WMC stockholders $15.96/share total ($1.43 cash; $8.75M cash total) vs MITT's $10.60 ($1.06 cash; $7.0M).
Acquired ~5.2% of MITT outstanding common stock as of July 24, 2023, making TPT second-largest stockholder.
Terra Property Trust reaffirms merger with WMC, counters MITT unsolicited bid
Combined company expected to have ~$1.2B in assets and $436M adjusted book value.
Per share exchange ratio based on adjusted book values of TPT and WMC as of determination date; no fixed cash price.
TPT and WMC merge to form $1.2B credit-oriented REIT; TPT shareholders to own 76%
WMC issues Class B shares to TPT stockholders; exchange ratio 0.785 based on adjusted book values as of March 31, 2023.
Terra Property Trust provides pro forma financials for merger with Terra Income Fund 6
Merger completed Oct 1, 2022; each Terra BDC share exchanged for 0.595 TPT Class B shares plus cash for fractional shares.
Terra Property Trust completes merger with Terra Income Fund 6, issues ~4.8M Class B shares
Each Terra BDC share converted into 0.595 Class B shares plus cash for fractional shares.
Terra Property Trust to acquire Terra Income Fund 6 in stock merger valued at $14.38 per share
Each Terra BDC share converts to 0.595 shares of Terra REIT Class B common plus cash for fractional shares at $14.38/share.
Terra REIT to merge with Terra BDC; 0.595x conversion, closing Q3 2022
Each Terra BDC share exchanged for 0.595 shares of Terra REIT Class B common stock plus cash in lieu of fractional shares.
on February 27, 2024, the Board of Directors of the Company appointed Sarah Schwarzschild to serve as the Company’s Chief Operating Officer, effective immediately.
On February 27, 2024, the Board of Directors (the “Board”) of Terra Property Trust, Inc. (the “Company”) appointed Sarah Schwarzschild to serve as the Company’s Chief Operating Officer, effective immediately.
As of the Effective Time and in accordance with the Merger Agreement, the Board increased the size of the Board by three members and elected each of Spencer Goldenberg, Adrienne Everett and Gaurav Misra (collectively, the “Terra BDC Designees”) to the Board to fill the vacancies on the Board created by such increase
As of the Effective Time and in accordance with the Merger Agreement, the Board increased the size of the Board by three members and elected each of Spencer Goldenberg, Adrienne Everett and Gaurav Misra (collectively, the “Terra BDC Designees”) to the Board to fill the vacancies on the Board created by such increase
As of the Effective Time and in accordance with the Merger Agreement, the Board increased the size of the Board by three members and elected each of Spencer Goldenberg, Adrienne Everett and Gaurav Misra (collectively, the “Terra BDC Designees”) to the Board to fill the vacancies on the Board created by such increase
Max materiality 0.85 · Median 0.65 · Most common event debt