Granite Point Mortgage Trust Inc. Conversion Rate Adjustment for Its Convertible Senior Notes Due 2022
NEW YORK--(BUSINESS WIRE)-- Granite Point Mortgage Trust Inc. (NYSE: GPMT), today announced an adjustment to the conversion rate for the company’s 5.625% convertible senior notes due 2022 (the “Notes”). This conversion rate adjustment is being made pursuant to the supplemental indenture governing the Notes as a result of the company’s previously announced second quarter 2018 common stock cash dividend of $0.40 per common share. Effective immediately after the close of business on July 2, 2018, the new conversion rate for the Notes will be 50.0548 shares of common stock per $1,000 principal amount of the Notes. Currently, the conversion rate for the Notes is 50.0000 shares of common stock per $1,000 principal amount of the Notes. Notice of the conversion rate adjustment was delivered to holders of the Notes and Wells Fargo Bank, N.A., as trustee, in accordance with the terms of the supplemental indenture governing the Notes.
About Granite Point Mortgage Trust Inc.
Granite Point
Mortgage Trust Inc. is a Maryland corporation focused on directly
originating, investing in and managing senior floating rate commercial
mortgage loans and other debt and debt-like commercial real estate
investments. Granite Point intends to elect and qualify to be taxed as a
REIT. Granite Point is headquartered in New York, NY, and is externally
managed by Pine River Capital Management L.P. Additional information is
available at www.gpmortgagetrust.com.
Additional Information
Stockholders of Granite Point and
other interested persons may find additional information regarding the
company at the Securities and Exchange Commission’s Internet site at www.sec.gov
or by directing requests to: Granite Point Mortgage Trust Inc., 590
Madison Avenue, 38th floor, New York, NY 10022, telephone
212-364-3200
View source version on businesswire.com: https://www.businesswire.com/news/home/20180628006386/en/
Granite Point Mortgage Trust Inc.
Investors:
Marcin
Urbaszek, 212-364-3200
Chief Financial Officer
investors@gpmortgagetrust.com
Source: Granite Point Mortgage Trust Inc.
Released June 28, 2018