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AG Mortgage Investment Trust, Inc. Completes Reverse Stock Split

by Sea Point Realtors

NEW YORK–(BUSINESS WIRE) – AG Mortgage Investment Trust, Inc. (NYSE: MITT) (the "Company") announced today that the previously announced reverse stock split of 3 common shares has been completed after today's close of business. The company's common stock will continue to trade on the New York Stock Exchange under the symbol "MITT" and under the new CUSIP number 001 228 501 as of July 23, 2021.

After close of business on July 22, 2021, when the reverse stock split became effective, all three issued and outstanding common shares of the company were converted into one common share of the company. As a result of the reverse stock split, the number of ordinary shares outstanding in the company decreased from 48,510,978 to approximately 16,164,007.

No fractional amounts were issued in connection with the reverse stock split. Instead, cash is paid instead of fractions that would otherwise have resulted from the reverse stock split. The reverse stock split applied to all of the company's outstanding common shares and therefore had no effect on the relative proportion of shareholders, with the exception of minor changes due to the cash payment for fractions of shares. The shareholders of record will receive information about their share ownership after the reverse stock split from American Stock Transfer & Trust Company, LLC, the transfer agent of the company, and, if necessary, cash instead of fractional shares. The shareholders did not have to take any action to effect the exchange of their shares.

About AG Mortgage Investment Trust, Inc.

AG Mortgage Investment Trust, Inc. is a hybrid mortgage REIT that opportunistically invests in a diversified risk-adjusted portfolio of credit investments and agency RMBS. The company's loan investments include residential real estate and commercial investments. AG Mortgage Investment Trust, Inc. is externally managed and advised by AG REIT Management, LLC, a subsidiary of Angelo, Gordon & Co., LP, a leading privately held alternative investment firm focused on credit and real estate strategies.

For more information, please visit the company's website at http://www.agmit.com.

About Angelo Gordon

Angelo, Gordon & Co., LP is a privately owned limited partnership incorporated in November 1988. The company currently manages approximately $ 44 billion with an emphasis on credit and real estate strategies. Angelo Gordon has over 570 employees, including more than 210 investment professionals, and is headquartered in New York with offices in the United States, Europe and Asia. Please visit http://www.angelogordon.com for more information.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends, and similar statements about matters that are not historical facts. In some instances, you can create forward-looking statements by using forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "expects," "believes," "estimates", " forecast "or" potential "or the negative of these words and phrases or similar words or phrases that are or indicate predictions of future events or trends and that are not related solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond our control, and could cause actual results to differ materially from those expressed in the forward-looking statements. Factors that can cause such a difference include, but are not limited to, whether the company will realize the anticipated benefits of the reverse stock split, as well as other risks and uncertainties, including those listed in the company's Annual Report on Form 10-K for the year through December 31, 2020 and its other reports from time to time filed with the US Securities and Exchange Commission. All forward-looking statements reflect the company's beliefs, beliefs and expectations in good faith but are not guarantees of future performance. The company cautions investors not to place undue reliance on forward-looking statements.

The forward-looking statements speak only as of the date of this press release. The company undertakes no obligation, and does not intend, to update these forward-looking statements after the date of this press release or to reflect actual results or revised expectations.