AG Mortgage Investment Trust (MITT) offers to exchange newly issued shares of its common stock for up to 1.36M shares of 8.25% series A cumulative redeemable preferred stock, 8.00% series B cumulative redeemable preferred stock, and 8.000% series C fixed-to-floating rate cumulative redeemable preferred stock, all par value $0.01 per share.Consideration will be limited to 6,818,350 newly issued shares of common stock, representing ~19.9% of MITT's common stock outstanding immediately prior to the offer's expiration date.Tender expires at 11:59 PM ET on Sept. 11, 2020.See the breakout of MITT stock ownership by type of investor:SA Contributor Colorado Wealth Management Fund sees MITT as "painfully overvalued."
