UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549

FORM 8-K

Current Report
 
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
 

Date of Report: April 17, 2018

Granite Point Mortgage Trust Inc.
(Exact name of registrant as specified in its charter)
 
Maryland
 
001-38124
 
61-1843143
(State or other jurisdiction
of incorporation)
 
(Commission
File Number)
 
(I.R.S. Employer
Identification No.)
 
590 Madison Avenue, 38th Floor
New York, NY 10022
(Address of principal executive offices)
(Zip Code)

Registrant’s telephone number, including area code:   (212) 364-3200

Not Applicable
(Former name or former address, if changed since last report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o
Written communications pursuant to Rule 425 under the Securities Act  (17 CFR 230.425)
 
 
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
 
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
 
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging Growth Company x

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
x






Item 1.01     Entry into a Material Definitive Agreement.

On April 13, 2018, GP Commercial CB SL LLC (the “Borrower”), a wholly owned subsidiary of Granite Point Mortgage Trust Inc. (the “Company”), entered into a Credit Agreement (the “Agreement”), with Citibank, N.A., as administrative agent and initial lender, Citigroup Global Markets Inc., as sole lead arranger and sole lead book running manager, and the Company and certain other of the Company’s wholly owned subsidiaries, as guarantors.

The Agreement provides for a two-year revolving credit facility (the “Credit Facility”) of up to $75,000,000. The maximum amount available for borrowing at any time under the Agreement is based on a valuation of certain assets of the Borrower. The Credit Facility is secured by a pledge of the equity interests in the Borrower and a security interest in a deposit account of the Borrower.

The Agreement also contains various affirmative and negative covenants, which are customary for similar revolving credit facilities, including monthly and quarterly reporting requirements and limitations on the incurrence of additional indebtedness and changes of control.

The foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Agreement which is filed herewith as Exhibit 10.1 and incorporated herein by reference.


Item 2.03     Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information set forth under Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.






Item 9.01
Financial Statements and Exhibits.

(d) Exhibits.
Exhibit No.
 
Description
 
 
 
10.1

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 


 
 
 
 
 




 
 





 
SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 
TWO HARBORS INVESTMENT CORP.
 
 
 
 
 
 
 
By:
/s/ REBECCA B. SANDBERG
 
 
Rebecca B. Sandberg
 
 
General Counsel and Secretary
 
 
 
Date: April 17, 2018