AG Mortgage Investment Trust, Inc.’s Acquisition of Western Asset Mortgage Capital Corporation

On August 8, 2023, AG Mortgage Investment Trust, Inc. (“MITT”), a publicly traded residential mortgage REIT managed by AG REIT Management, LLC, an affiliate of Angelo, Gordon & Co., L.P., a leading alternative investment firm, and Western Asset Mortgage Capital Corporation (“WMC”), a real estate investment trust, announced that they have entered into a definitive merger agreement, following WMC’s termination of its previously announced acquisition agreement with Terra Property Trust, Inc. in accordance with the terms of such agreement. Pursuant to the agreement MITT will acquire WMC in a fixed exchange ratio stock/cash transaction. Cravath is representing MITT in connection with matters related to the merger.

The Cravath team includes associate Alexander J. A. Burger on M&A matters.