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

Nov 22, 2021

Granite+Point+Mortgage+Trust+Inc. (NYSE: GPMT) (“GPMT,” “Granite Point” or the “Company”) today announced the pricing of its underwritten public offering of 4,000,000 shares of its 7.00% Series A Fixed-to-Floating Rate Series A Cumulative Redeemable Preferred Stock (the “Series A Preferred Stock”), liquidation preference $25.00 per share, for gross proceeds of $100,000,000, before deducting the underwriting discounts and other estimated offering expenses. GPMT also granted the underwriters a 30-day option to purchase up to an additional 600,000 shares of the Series A Preferred Stock to cover over-allotments, if any. The Company intends to file an application to list the Preferred Stock on the New York Stock Exchange under the ticker symbol “GPMT PrA” and, if approved, expects trading to commence within 30 days after the initial issuance of the Series A Preferred Stock. The offering is expected to close on November 30, 2021, subject to customary closing conditions.

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