Real-time Estimate Quote. Real-time Estimate  - 08/06 09:18:14 am
2.66USD +2.70%


06/18/2020 | 06:18am

Item 8.01 Other Events.

On May 7, 2020, AG Mortgage Investment Trust, Inc. (the "Company") issued a
press release in which the Company estimated its book value per share1, as of
April 30, 2020, to be in the range of $1.80 to $1.90.

On June 12, 2020, the Company issued a press release in which the Company stated
that, based on the Company's preliminary internal analysis, the Company
estimated that book value per share as of May 31, 2020 was in a range not
substantially higher than it was at April 30, 2020.

The financial information set forth above reflects the Company's estimates of
book value per share as of the indicated dates based on information available to
management at the time the respective statement was made. These estimates are
not a comprehensive statement or estimate of the Company's financial results or
financial condition. These estimates should not be viewed as a substitute for
financial statements prepared in accordance with U.S. GAAP and they are not
necessarily indicative of the results for any future period. Accordingly, you
should not place undue reliance on these estimates.

These estimates were prepared by, and are the responsibility of, the Company's
management and are based upon a number of assumptions, including but not limited
to, estimates related to the resolution of deficiencies with financing
counterparties, the valuation of certain of its assets and the restructuring of
certain of its financing arrangements. Additional items that may require
adjustments to these estimates may be identified and could result in material
changes to these estimates. The Company undertakes no obligation to update this
information. PricewaterhouseCoopers LLP ("PwC"), the Company's independent
registered public accounting firm, has not audited, reviewed, compiled or
performed any procedures with respect to the estimated financial information set
forth herein. Accordingly, PwC does not express an opinion or provide any form
of assurance with respect thereto.


This Current Report on Form 8-K includes "forward-looking statements" within the
meaning of the safe harbor provisions of the United States Private Securities
Litigation Reform Act of 1995. Forward-looking statements are based on
estimates, projections, beliefs and assumptions of management of the Company at
the time of such statements and are not guarantees of future performance.
Forward-looking statements involve risks and uncertainties in predicting future
results and conditions. Actual results and outcomes could differ materially from
those projected in these forward-looking statements due to a variety of factors
and the impact of the COVID-19 pandemic on these factors, including, without
limitation, changes in interest rates, changes in the yield curve, changes in
prepayment rates on the loans we own that underlie our investment securities,
increases in default rates or delinquencies and/or decreased recovery rates on
our assets, our ability to predict and control costs, our ability to accurately
estimate our book value per share, our ability to make distributions to our
stockholders in the future, our ability to maintain our qualification as a REIT
for federal tax purposes, our ability to maintain our exemption from
registration under the Investment Company Act of 1940, as amended, the
availability and terms of financing, changes in the fair value of our assets,
including negative changes resulting in margin calls relating to the financing
of our assets, changes in general economic conditions, in our industry and in
the finance and real estate markets, including the impact on the value of our
assets, conditions in the market for Agency RMBS, Non-Agency RMBS and CMBS
securities, Excess MSRs and loans, conditions in the real estate market,
legislative and regulatory actions by the U.S. Department of the Treasury, the
Federal Reserve and other agencies and instrumentalities in response to the
economic effects of the COVID-19 pandemic that could adversely affect the
business of the Company, the forbearance program included in the Coronavirus
Aid, Relief, and Economic Security Act (the "CARES Act") and the ongoing spread
and economic effects of the novel coronavirus (COVID-19). Additional information
concerning these and other risk factors are contained in our filings with the
Securities and Exchange Commission ("SEC"), including our most recent Annual
Report on Form 10-K and subsequent filings, including our quarterly report on
Form 10-Q for the three months ended March 31, 2020. Copies are available free
of charge on the SEC's website, The Company undertakes no
duty to update any forward-looking statements in this Current Report on Form 8-K
to reflect any change in its expectations or any change in events, conditions or
circumstances on which any such statement is based.

1 Per share amounts for book value are calculated using all outstanding common
shares in accordance with U.S. GAAP, including all vested shares granted to
the Company's external manager and to independent directors under the
Company's equity incentive plans as of April 30. 2020. Book value is
calculated using stockholders' equity less net proceeds of the Company's
8.25% Series A Cumulative Redeemable Preferred Stock ($49.9 million), 8.00%
Series B Cumulative Redeemable Preferred Stock ($111.3 million), and 8.000%
Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock ($111.2
) as the numerator. The liquidation preference for the Series A,
Series B and Series C Preferred Stock is $51.8 million, $115 million and
$115 million, respectively.


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