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Granite Point Mortgage Trust Inc 7.00% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock

Coupon is fixed at 7.00% until 1/14/2027 after which the rate is reset at 3 month SOFR plus a fixed spread of 5.83%. The coupon has a floor of 7.00% (coupon will never be below 7.00%).

The company is selling another 3.2 million shares (plus 480,000 for over allotment) on 1/18/2022.

Ticker: GPMT-A

Parent Ticker: GPMT

OTC Grey Market Temporary Ticker: NA

Issuance Date: 11/22/2021

1st Call Date: 01/15/2027

Maturity Date: None

Shares Issued: 4,000,000

Overallotment Shares: 600,000

Coupon: 7.00%

Face Value: $25.00

Cumulative: Yes

Qualified: No

Quarterly Dividend Amount: 0.4375

Payment Months: JAN, APR, JUL, OCT

Payment Day: 15

S&P Rating: NR

III Rating (In Regards to Dividend Safety Only): C

Moody Rating: NR

Fitch Rating: NR

Egan-Jones Rating: NR

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