Company: MITN
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001628280-25-050624
Chunk: 258

Company: AG Mortgage Investment Trust, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 258
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rying ValueMaturity Date (2)Redemption Date (3)Rate (4)February 2029 Senior Unsecured Notes$34,500 $33,249 February 15, 2029February 15, 20269.500 %May 2029 Senior Unsecured Notes$65,000 $63,018 May 15, 2029May 15, 20269.500 %(1)The Senior Unsecured Notes were issued at 100% of the principal amount.(2)The Company has the option to redeem the Senior Unsecured Notes earlier than the maturity date. (3)The Company may redeem the Senior Unsecured Notes in whole or in part at any time or from time to time at the Company’s option on or after the redemption date, upon not less than 30 days written notice to holders prior to the redemption date, at a redemption price equal to 100% of the outstanding principal amount of the Senior Unsecured Notes to be redeemed plus accrued and unpaid interest to, but excluding, the redemption date.(4)The Senior Unsecured Notes bear interest at a rate equal to 9.500% per year, payable in cash quarterly in arrears on February 15, May 15, August 15 and November 15 of each year, beginning on the applicable first pay date. The below table details the total interest expense incurred on the Senior Unsecured Notes during the three and nine months ended September 30, 2025 and 2024 (in thousands).Three Months EndedNine Months EndedSeptember 30, 2025September 30, 2024September 30, 2025September 30, 2024Coupon interest expense$2,363 $2,363 $7,089 $4,563 Amortization expense187 168 546 332 Total interest expense$2,550 $2,531 $7,635 $4,895 Legacy WMC Convertible NotesIn connection with the WMC acquisition, a wholly owned subsidiary of the Company assumed, and the Company guaranteed, $86.25 million aggregate principal amount of Legacy WMC Convertible Notes. The Legacy WMC Convertible Notes had an interest rate of 6.75% and interest was paid semiannually. During the nine months ended September 30, 2024, the Company repurchased $7.1 million of principal amount of its outstanding Legacy WMC Convertible Notes.