AG Mortgage Investment Trust, Inc. Announces Pricing of Public Offering of
NEW YORK -- December 20, 2012
AG Mortgage Investment Trust, Inc. (NYSE: MITT) (the "Company") announced
today that it has priced a public offering of 3,750,000 shares of its common
stock for total estimated gross proceeds of approximately $89 million. The
Company has granted the underwriters a 30-day option to purchase up to 562,500
additional shares of its common stock. The offering is subject to customary
closing conditions and is expected to close on December 26, 2012.
The Company expects to use the net proceeds from the offering to make
additional acquisitions of our target assets, which include residential
mortgage-backed securities and other real estate-related assets, and for
general corporate purposes.
Credit Suisse Securities (USA) LLC, BofA Merrill Lynch, Nomura and Stifel
Nicolaus Weisel are acting as book-running managers for the offering. JMP
Securities LLC, Wunderlich Securities and Maxim Group LLC are acting as
The offering will be made pursuant to the Company's existing shelf
registration statement, which was declared effective by the Securities and
Exchange Commission on July 20, 2012. This press release is neither an offer
to sell nor a solicitation of an offer to buy shares of common stock. The
offering of these securities will be made only by means of a prospectus and a
related prospectus supplement, a copy of which may be obtained by contacting:
Credit Suisse Securities (USA) LLC, One Madison Avenue, New York, New York
10010, Attention: Prospectus Department or by calling (800) 221-1037 or
emailing firstname.lastname@example.org; BofA Merrill Lynch at 222
Broadway, New York, NY 10038, Attention: Prospectus Department or by emailing
email@example.com; Nomura Securities International, Inc., by
mail at Attention: Equity Syndicate Department, 2 World Financial Center, New
York, NY 10281 or by telephone at (212) 667-9000; and Stifel Nicolaus Weisel,
Attn: Prospectus Department, One South Street, 15th Floor, Baltimore, MD 21201
or by calling (855) 300-7136.
This press release and the prospectus supplement and the accompanying
prospectus shall not constitute an offer to sell or the solicitation of an
offer to buy, nor shall there be any sale of these securities in any state in
which such offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state.
About AG Mortgage Investment Trust, Inc.
AG Mortgage Investment Trust, Inc. is a real estate investment trust that
invests in, acquires and manages a diversified portfolio of residential
mortgage assets, other real estate-related securities and financial assets. AG
Mortgage Investment Trust, Inc. is externally managed and advised by AG REIT
Management, LLC, a subsidiary of Angelo, Gordon & Co., L.P., an SEC-registered
investment adviser that specializes in alternative investment activities.
Forward-Looking Statements Disclaimer
This press release contains "forward-looking statements" made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act of
1995, including with regard to the Company's consummation of its offering of
common stock and the anticipated use of proceeds. Forward-looking statements
typically are identified by use of the terms such as "believe," "expect,"
"anticipate," "estimate," "plan," "continue," "intend," "should," "may" or
similar expressions. Forward-looking statements are based on our beliefs,
assumptions and expectations of our future performance, taking into account
all information currently available to us. No assurance can be given that the
offering discussed above will be consummated, or that the net proceeds of the
offering will be used as indicated. Consummation of the offering, and the
application of the net proceeds of the offering, are subject to numerous
possible events, factors and conditions, many of which are beyond the control
of the Company and not all of which are known to us, including, without
limitation, market conditions and those described in our Annual Report on Form
10-K for the fiscal year ended December 31, 2011, Quarterly Report on Form
10-Q for the quarter ended June 30, 2012, as amended, and Quarterly Report on
Form 10-Q for the quarter ended September 30, 2012, each of which has been
filed with the Securities and Exchange Commission. All forward-looking
statements speak only as of the date on which they are made. New risks and
uncertainties arise over time, and it is not possible to predict those events
or how they may affect us. Except as required by law, we are not obligated to,
and do not intend to, update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise.
AG Mortgage Investment Trust, Inc.
Lisa Yahr, 212-692-2282
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