Mergers & Acquisitions ·
Cherry Hill Mortgage Investment Corp. entered into a definitive Agreement and Plan of Merger with TPG Mortgage…
CHMI-PBCherry Hill Mortgage Investment Corp
Cherry Hill Mortgage Investment Corp. entered into a definitive Agreement and Plan of Merger with TPG Mortgage Investment Trust, Inc., under which MITT will acquire CHMI in a transaction valued at approximately $117.5 million. The merger involves two steps: first, Cherry Hill Operating Partnership merges into Cherry Hill Mortgage, leaving it as the surviving corporation; second, Cherry Hill Mortgage merges into a subsidiary of MITT. Upon closing, each share of Cherry Hill common stock will convert into 0.3063 shares of MITT common stock plus $0.93 in cash per share ($0.41 from MITT and $0.52 from the parent manager). Cherry Hill preferred shareholders will receive one-to-one exchanges for newly issued MITT preferred shares with substantially identical rights. The transaction is expected to close in the fourth quarter of 2026, subject to stockholder approvals and regulatory conditions. Cherry Hill Mortgage Investment Corp. operates as a real estate finance company that acquires, invests in, and manages residential mortgage assets in the United States.