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Granite Point Mortgage Trust Inc. Announces Pricing of Public Offering of Additional Shares of 7.00% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock | News

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New York – (BUSINESS WIRE) – January 18, 2022 –

Granite Point Mortgage Trust Inc. (NYSE: GPMT) (“GPMT”, “Granite Point”, or “the Company”) today announced pricing for the IPO of an additional 3,200,000 shares of cumulative fixed-to-variable-price redeemable preferred stock of 7.00% of the series. A (“Series A Preferred Stock”), liquidation preference $25.00 per share, for total proceeds of $80,000,000, before deducting underwriting discounts and other estimated offering expenses. GPMT also gave underwriters a 30-day option to purchase up to 480,000 additional shares of Series A preferred stock to cover excess allotment, if any. Additional shares of Series A Preferred Stock constitute an additional issue of Series A Preferred Stock, with 4,596,500 shares of Series A Preferred Stock previously issued (“Series A Preferred Stock”). Series A Preferred Stock will be treated as one series with the same terms as Series A Preferred Stock. The Premium Series A Preferred Stock, and the Series A Preferred Stock sold in the offering, is listed on the New York Stock Exchange under the ticker symbol “GPMT PrA.” The offer is expected to close on January 25, 2022, under usual closing conditions.

The Company intends to use the net proceeds of the Offering for general corporate purposes, including, but not limited to, loan creation, debt repayment, working capital, capital expenditures, investments and acquisitions.

Raymond James & Associates, Inc. As the only book director for this show.

The Series A preferred stock is being offered according to the company’s automatic shelf filing statement previously filed with the Securities and Exchange Commission on August 11, 2021 (commission file No. 333-258719). Offer may only be made through the supplemental prospectus and accompanying prospectus, copies of which, when available, may be obtained by contacting Raymond James & Associates, Inc., Attention: Syndicate, 880 Carillon Parkway St. Petersburg, FL 33716, by phone at (800) 248-8863, or via email at prospectus@raymondjames.com.

This press release shall not constitute an offer to sell, or solicitation of an offer for, these or any other securities, nor shall there be any sale of the securities of the Company in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state or jurisdiction.

About Granite Point Mortgage Trust Inc.

Granite Point Mortgage Trust Inc. Inc. is a Maryland company focused on the direct creation, investment in and management of commercial floating rate mortgage loans and other debt-like commercial real estate investments. Granite Point is headquartered in New York, New York.

forward-looking statements

This statement may include statements and information that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended, and we intend to cover such forward-looking statements under the safe harbor provisions contained therein that are incorporated into this statement. For purposes of invoking safe harbor provisions. Forward-looking statements include statements regarding our beliefs, plans, goals, objectives, expectations, projections, assumptions, estimates, intentions and future performance. Forward-looking statements in this release include, but are not limited to, expectations regarding closing and use of proceeds from the offering.

Forward-looking statements involve many risks and uncertainties. Our actual results may differ from our beliefs, expectations, estimates and expectations and, therefore, you should not rely on these forward-looking statements as predictions of future events. Forward-looking statements are not historical in nature and can be identified by words such as “expect,” “estimate,” “will,” “should,” “expect,” “objective,” “believe,” “forward-looking,” “potential,” “continuing,” “intent”, “endeavour”, “planning”, “objectives”, “future”, “potential”, “may” and similar expressions or their negative forms, or with reference to a strategy, plans or intentions. These forward-looking statements are subject to risks and uncertainties, including: That, among other things, those described in our annual report on Form 10-K for the year ended December 31, 2020 and any subsequent Form 10-Q and Form 8-K applications filed with the Securities and Exchange Commission, are under the heading “Risk Factors.” These risks are also due to the continuing and evolving impact of the COVID-19 pandemic.Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise, except as required the law.

additional information

Granite Point security holders and other interested persons may find additional information regarding the company on the Securities and Exchange Commission’s website at www.sec.gov or by directing applications to: Granite Point Mortgage Trust Inc., 3 Bryant Park, 24th floor , New York, NY 10036, phone (212) 364-5500.

View source copy on businesswire.com: https://www.businesswire.com/news/home/20220118006227/en/

Contact: Investors:

Marcin Orbach

Chief Financial Officer, Granite Point Mortgage Trust Inc.

(212) 364-5500

Investors@gpmtreit.com

Keyword: Minnesota, New York, United States, North America

Industry Keyword: Real Estate Refinance Professional Services Commercial Buildings, Real Estate Construction and Property

Source: Granite Point Mortgage Trust Inc.

Copyright Business Wire 2022.

Publication date: 01/18/2022 04:30 PM / Disc: 01/18/2022 04:32 PM

http://www.businesswire.com/news/home/20220118006227/ar

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