TPT

Terra Property Trust Issues Statement Regarding Terminated Transaction with Western Asset Mortgage Capital Corporation

Retrieved on: 
Wednesday, August 9, 2023
Professional Services, Residential Building & Real Estate, Commercial Building & Real Estate, Finance, Construction & Property, REIT, Banking, WMC, TPT, NYSE, Medical Properties Trust, Management

Terra Property Trust, Inc. (“TPT” or “we”) today issued the below statement regarding its terminated merger agreement with Western Asset Mortgage Capital Corporation (NYSE: WMC) (“WMC”).

Key Points: 
  • Terra Property Trust, Inc. (“TPT” or “we”) today issued the below statement regarding its terminated merger agreement with Western Asset Mortgage Capital Corporation (NYSE: WMC) (“WMC”).
  • Vik Uppal, Chairman & CEO of TPT and Mavik Capital Management, L.P., commented:
    "We are disappointed that we could not come to an agreement with WMC’s Board of Directors to merge.
  • WMC requested additional changes that we were unwilling to make because they would not have been in stockholders’ best interests.
  • TPT will remain relentlessly focused on our pursuit of maximizing value, investing with discipline, and advocating for stockholders.”

Terra Property Trust Delivers Enhanced Merger Proposal to Western Asset Mortgage Capital Corporation

Retrieved on: 
Thursday, August 3, 2023
REIT, Finance, Professional Services, Commercial Building & Real Estate, Construction & Property, TPT, Partnership, Angelo Gordon, Suggestion, AG, UK Commercial Property Trust, AUM, WMC, MITT, Letter, NYSE, Appendix cancer, Cryptocurrency, Holding company, Airline, Appendix

Terra Property Trust, Inc. today released the below letter sent to the Board of Directors of Western Asset Mortgage Capital Corporation (NYSE: WMC).

Key Points: 
  • Terra Property Trust, Inc. today released the below letter sent to the Board of Directors of Western Asset Mortgage Capital Corporation (NYSE: WMC).
  • Dear Members of the Board of Directors,
    I write to you on behalf of Terra Property Trust, Inc. (“TPT” or “we”) to reaffirm our commitment to consummating a merger with Western Asset Mortgage Capital Corporation (“WMC” or “you”).
  • With that context in mind, we are pleased to submit an enhanced cash-and-stock proposal (the “TPT Enhanced Proposal”) on terms that are clearly superior to the AG Mortgage Investment Trust, Inc. (“MITT”) bid.
  • We trust that you will thoroughly and objectively evaluate the TPT Enhanced Proposal in accordance with both the terms of our Merger Agreement and your fiduciary duties as directors.

Western Asset Mortgage Capital Corporation Board Determines AG Mortgage Investment Trust, Inc. Proposal Is Superior to Terra Property Trust, Inc. Merger Agreement

Retrieved on: 
Friday, July 28, 2023
Residential Building & Real Estate, Commercial Building & Real Estate, Construction & Property, REIT, TPT, Attention, BY, Communication, AS, WHEN, Form 10-K, AND, Sale, Register, Prospectus, Annual report, Superior, ANY, Form, WMC, MITT, NYSE, JOINT, Proxy, Registration statement, Security (finance), Financial adviser

Consistent with its fiduciary duties, the WMC board of directors conducted a thorough and rigorous review of the MITT proposal and the TPT merger agreement before making its determination regarding MITT’s proposal.

Key Points: 
  • Consistent with its fiduciary duties, the WMC board of directors conducted a thorough and rigorous review of the MITT proposal and the TPT merger agreement before making its determination regarding MITT’s proposal.
  • WMC’s merger agreement with TPT remains in full force and effect, and the WMC board has not withdrawn or modified its recommendation regarding the pending transaction with TPT.
  • In accordance with the terms of the merger agreement with TPT, acceptance of a “Parent Superior Proposal” is subject to matching rights of TPT.
  • The joint proxy statement/prospectus will contain important information about WMC, TPT, the proposed TPT Merger and related matters.

Western Asset Mortgage Capital Corporation to Engage in Discussions With AG Mortgage Investment Trust, Inc.

Retrieved on: 
Tuesday, July 18, 2023
Commercial Building & Real Estate, Construction & Property, Finance, Banking, REIT, Professional Services, Asset Management, Other Construction & Property, Residential Building & Real Estate, TPT, Attention, BY, Communication, AS, WHEN, Form 10-K, AND, Sale, Register, Prospectus, Annual report, Superior, ANY, Form, WMC, MITT, NYSE, JOINT, Proxy, Registration statement, Security (finance)

As a result of the WMC board’s determination, WMC intends to engage in discussions with MITT regarding its proposal, in accordance with the terms of the merger agreement with TPT.

Key Points: 
  • As a result of the WMC board’s determination, WMC intends to engage in discussions with MITT regarding its proposal, in accordance with the terms of the merger agreement with TPT.
  • In accordance with the terms of the merger agreement with TPT, acceptance of a “Parent Superior Proposal” is subject to matching rights of TPT.
  • There can be no assurance that the discussions with MITT will result in a transaction.
  • The joint proxy statement/prospectus will contain important information about WMC, TPT, the proposed TPT Merger and related matters.

AG Mortgage Investment Trust Submits Offer to Acquire Western Asset Mortgage Capital Corporation for Implied Price of $9.88 Per Share

Retrieved on: 
Thursday, July 13, 2023
REIT, Finance, Professional Services, Residential Building & Real Estate, Construction & Property, TPT, Angelo Gordon, AG, Multimedia, Real estate investment trust, Acquisition, WMC, Growth, Combined, MITT, Letter, NYSE, Security (finance), Baking, Bookkeeping, Sales, Financial adviser, Audit, Real estate, Cryptocurrency, Life insurance, Distribution (marketing)

AG Mortgage Investment Trust, Inc. (NYSE: MITT) (“MITT”) today announced that it submitted a proposal to the Board of Directors of Western Asset Mortgage Capital Corporation (NYSE: WMC) (“WMC”) to acquire WMC for a fixed exchange ratio, representing an implied price of $9.88 per share, consisting of a stock consideration of $8.90 per share and cash consideration of $0.98 per share.

Key Points: 
  • AG Mortgage Investment Trust, Inc. (NYSE: MITT) (“MITT”) today announced that it submitted a proposal to the Board of Directors of Western Asset Mortgage Capital Corporation (NYSE: WMC) (“WMC”) to acquire WMC for a fixed exchange ratio, representing an implied price of $9.88 per share, consisting of a stock consideration of $8.90 per share and cash consideration of $0.98 per share.
  • The offer represents an 18.2% premium to WMC’s closing share price, all based on MITT and WMC stock prices as of July 12, 2023.
  • We have carefully evaluated the merits of a combination between MITT and Western Asset Mortgage Capital Corporation (“WMC”) and concluded that such a transaction would be value maximizing for the stockholders of both WMC and MITT.
  • Accordingly, MITT is pleased to submit this non-binding proposal to purchase WMC for an implied value of $9.88 per share, representing an 18.2% premium to WMC’s closing share price as of July 12, 2023.

Oakland City Workers Applaud Adoption of Budget that Protects Public Services

Retrieved on: 
Thursday, June 29, 2023
TPT, SEIU, Face, Municipal council, Multimedia, Oakland City Council, City, Investment, Council, FEMA, IAFF, Airline

OAKLAND, Calif., June 29, 2023 /PRNewswire/ -- After the passage of Oakland's two-year balanced budget on Monday, unions representing thousands of city employees in SEIU Local 1021, IFPTE Local 21, and IAFF Local 55 applaud Mayor Sheng Thao and the City Council for overcoming an unprecedented budget shortfall left over from the previous administration. Council Members Carroll Fife, Kevin Jenkins, Dan Kalb, Rebecca Kaplan and Council President Bas have shown what real leadership looks like in voting to adopt this historic budget.

Key Points: 
  • We are glad to see the final budget takes bold steps to address the City's long-running vacancy crisis, which City workers have been sounding the alarm on for years.
  • Even in the face of a challenging revenue shortfall, the Mayor's budget prioritizes important city services our members are proud to provide.
  • The budget values our workers, and doesn't impose cruel cuts that hurt Oakland residents and put our members out of work.
  • "This budget puts us on a path to staffing up the City and restoring services," said Seth Olyer, Oakland Firefighters IAFF Local 55 Vice President.

Terra Property Trust and Western Asset Mortgage Capital Corporation Announce Merger to Form Credit-Oriented Real Estate Investment Trust

Retrieved on: 
Wednesday, June 28, 2023
Commercial Building & Real Estate, Construction & Property, Finance, Banking, REIT, Professional Services, Asset Management, Other Construction & Property, Residential Building & Real Estate, Slate, Agreement, TPT, Attention, BY, LLP, Communication, AS, Partnership, Alston & Bird, WHEN, Form 10-K, AND, Medical Properties Trust, Sale, Register, Mergers and acquisitions, Prospectus, Trust, Skadden, Arps, Slate, Meagher & Flom, Annual report, ANY, Form, WMC, Depreciation, Growth, Section 10 of the Canadian Charter of Rights and Freedoms, Exhibit, CRE, NYSE, JOINT, Proxy, Registration statement, Security (finance), Holding company, Financial adviser, Trandolapril

Under the terms of the Agreement, WMC will issue to TPT stockholders newly designated shares of WMC Class B common stock as merger consideration.

Key Points: 
  • Under the terms of the Agreement, WMC will issue to TPT stockholders newly designated shares of WMC Class B common stock as merger consideration.
  • The joint proxy statement/prospectus will contain important information about WMC, TPT, the proposed merger and related matters.
  • WMC and TPT also expect to file with the SEC other documents regarding the merger.
  • These documents are available free of charge on the SEC’s website and from WMC or TPT, as applicable, using the sources indicated above.

Minute Media Unveils ‘Here to Stay: It’s Not Just a Year, It’s a Movement’ Campaign Ahead of 2023 Women's World Cup

Retrieved on: 
Wednesday, June 14, 2023
Social Media, Influencer, Publishing, Marketing, Advertising, Social Activism, Communications, Professional Services, Women, Soccer, Sports, Media, DEI (Diversity, Equity and Inclusion), Digital Marketing, Consumer, TPT, WNBPA, WNBA, Football, Mental Floss, Culture, Woman, Female, Movement, Mother, Organization, Athlete, OOH, CBA, Collection, FanSided, Sport, City, Letter

The ‘Here to Stay’ campaign will come to life through a combination of out-of-home activations in key cities, an increased social content cadence and impactful editorial features.

Key Points: 
  • The ‘Here to Stay’ campaign will come to life through a combination of out-of-home activations in key cities, an increased social content cadence and impactful editorial features.
  • “There’s been some rumblings that 2023 is the ‘year of the woman’ in sports.
  • “For the last ten years we’ve devoted our platforms to covering women’s sports - especially football - the same way we cover men.
  • Since its inception, The Players’ Tribune (TPT) has worked with female athletes to tell their stories through their own perspective.

Maintenance and Operation of Ports and Harbours in South Africa 2023: Efficiencies Needed to Make Port System More Competitive - ResearchAndMarkets.com

Retrieved on: 
Monday, June 5, 2023
Transport, Maritime, TPT, Maintenance, Dockyard Ports Regulation Act 1865, Harbor, Transnet National Ports Authority, Flood, Investment, Shipbuilding, Transnet

The "Maintenance and Operation of Ports and Harbours in South Africa 2023" report has been added to ResearchAndMarkets.com's offering.

Key Points: 
  • The "Maintenance and Operation of Ports and Harbours in South Africa 2023" report has been added to ResearchAndMarkets.com's offering.
  • This report on the maintenance and operations of ports and harbours in South Africa includes comprehensive information on volumes handled, capacity, developments and performance against benchmarks.
  • Transnet National Port Authority (TNPA), the sole landlord of South Africa's commercial ports, and port terminal operator Transnet Port Terminals (TPT), posted a net profit before tax in 2022.
  • Yet South Africa's ports are among the least efficient in the world and compare unfavourably to almost all ports on the African continent.

Avertix, Maker of First and Only FDA-Approved Implantable Heart Attack Warning System, to Become Publicly Traded via Merger with BIOS Acquisition Corporation

Retrieved on: 
Wednesday, May 3, 2023
TPT, Heart, LLP, Plan, CMS, Cayman, American Heart Association, Honigman LLP, Acute coronary syndrome, Cardiovascular disease, Clinical trial, Splenic infarction, Trust, BIOS, Business analyst, ESOP, Accounting, CDC, Medicare, Cooley LLP, Acquisition, Patient, ACS, Transaction, Korea Disease Control and Prevention Agency, Walkers, FDA, Health, Death, Corporate action, World Health Organization, Medical device, Pharmaceutical industry

EATONTOWN, N.J. and NEW YORK, May 03, 2023 (GLOBE NEWSWIRE) -- Avertix Medical, Inc. (“Avertix” or the “Company”), formerly known as Angel Medical Systems, Inc., a company focused on improving long-term management and outcomes of high-risk coronary disease in patients who have survived one or more heart attacks, and BIOS Acquisition Corporation (dba BioPlus Acquisition Corp.) (“BIOS”) (Nasdaq: BIOS), a special purpose acquisition company, today announced that the companies have entered into a definitive merger agreement for a business combination (the “Transaction”) that would result in Avertix becoming a publicly traded company on Nasdaq. The Transaction is expected to close in the second half of 2023. The combined company, which will be named Avertix Medical, Inc., will have an enterprise value of approximately $195 million, and the common stock of the combined company is expected to be listed on Nasdaq under the ticker symbol “AVRT.”

Key Points: 
  • Avertix’s ALERTS clinical trial showed the Guardian System enables heart attack patients to seek urgent medical attention earlier than patients who relied only on symptoms.
  • “We are thrilled to join forces with BIOS to accelerate the commercialization, adoption and continued development of the Guardian System.
  • Approximately 25% of these heart attack survivors will experience a second heart attack within five years of their first.
  • LifeSci Capital LLC is acting as the fairness opinion provider to the board of directors of BIOS.