8-K
Granite Point Mortgage Trust Inc. (GPMT)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): December 30, 2020
Granite Point Mortgage Trust Inc.
(Exact name of registrant as specified in its charter)
| Maryland | 001-38124 | 61-1843143 |
|---|---|---|
| (State or other jurisdiction<br>of incorporation) | (Commission<br>File Number) | (I.R.S. Employer<br>Identification No.) |
| 3 Bryant Park, Suite 2400A | ||
| --- | --- | --- |
| New York, | NY | 10036 |
| (Address of principal executive offices)<br>(Zip Code) |
Registrant’s telephone number, including area code: (646) 540-7940
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class: | Trading Symbol(s) | Name of each exchange on which registered: |
|---|---|---|
| Common Stock, par value $0.01 per share | GPMT | NYSE |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging Growth Company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01 Other Events.
On December 30, 2020, Granite Point Mortgage Trust Inc. (the "Company") issued a press release announcing an adjustment to the conversion rate for its 5.625% and 6.375% convertible senior notes due 2022 and 2023, respectively. A copy of the press release announcing the conversion rate adjustments is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits. |
|---|
(d) Exhibits.
| Exhibit No. | Description |
|---|---|
| 99.1 | Press Release of Granite Point Mortgage Trust Inc., dated December 30, 2020 |
| 104 | Cover Page Interactive Data File, formatted in Inline XBRL. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| GRANITE POINT MORTGAGE TRUST INC. | ||
|---|---|---|
| By: | /s/ MICHAEL J. KARBER | |
| Michael J. Karber | ||
| General Counsel and Secretary | ||
| Date: December 30, 2020 |
gpmtconvertseniorconvers
Granite Point Mortgage Trust Inc. Conversion Rate Adjustment for its Convertible Senior Notes Due 2022 and 2023 NEW YORK, December 30, 2020 – Granite Point Mortgage Trust Inc. (NYSE: GPMT) (“GPMT,” “Granite Point” or the “Company”) today announced adjustments to the conversion rates for the Company’s 5.625% convertible senior notes due 2022 (the “2022 Notes”) and the Company’s 6.375% convertible senior notes due 2023 (the “2023 Notes”). These conversion rate adjustments are being made as a result of the Company’s previously announced special cash dividend of $0.25 per share of common stock. Effective immediately after the close of business on December 31, 2020, the new conversion rate for the 2022 Notes will be 51.9943 shares of common stock per $1,000 principal amount of the 2022 Notes. Currently, the conversion rate for the 2022 Notes is 50.7073 shares of common stock per $1,000 principal amount of the 2022 Notes. Notice of the conversion rate adjustment for the 2022 Notes was delivered to holders of the 2022 Notes and Wells Fargo Bank, N.A., as trustee, in accordance with the terms of the supplemental indenture governing the 2022 Notes. Effective immediately after the close of business on December 31, 2020, the new conversion rate for the 2023 Notes will be 50.0894 shares of common stock per $1,000 principal amount of the 2023 Notes. Currently, the conversion rate for the 2023 Notes is 48.8496 shares of common stock per $1,000 principal amount of the 2023 Notes. Notice of the conversion rate adjustment for the 2023 Notes was delivered to holders of the 2023 Notes and Wells Fargo Bank, N.A., as trustee, in accordance with the terms of the supplemental indenture governing the 2023 Notes. About Granite Point Mortgage Trust Inc. Granite Point Mortgage Trust Inc. is a Maryland corporation focused on directly originating, investing in and managing senior floating rate commercial mortgage loans and other debt and debt-like commercial real estate investments. Granite Point is headquartered in New York, NY, and is externally managed by Pine River Capital Management L.P. Additional information is available at www.gpmtreit.com. Additional Information Stockholders of Granite Point and other interested persons may find additional information regarding the company at the Securities and Exchange Commission’s Internet site at www.sec.gov or by directing requests to: Granite Point Mortgage Trust Inc., 3 Bryant Park, 24th floor, New York, NY 10036, telephone (646) 540-7940. Contact Investors: Marcin Urbaszek, Chief Financial Officer, Granite Point Mortgage Trust Inc., (646) 540-7940, investors@gpmtreit.com.