MITT Mails Definitive Proxy for CHMI Merger — Stockholder Vote Set for December 2
MITT is trading near its 52-week low of $5.5 (3.5% above the low) on elevated volume (2.0× avg).
Summary
MITT mailed the definitive proxy for its CHMI acquisition, scheduling stockholder votes for December 2, 2026. The filing confirms deal terms and adds pro forma financials showing a $740M combined equity base.
Key Events · M&A and Partnerships · MITT
-
Stockholder Vote Set for December 2
Both MITT and CHMI special meetings will be held December 2, 2026, with record dates of October 2, 2026. MITT stockholders vote on the share issuance; CHMI stockholders vote on the merger agreement.
-
Deal Terms Confirmed
Each CHMI share converts to 0.3063 MITT shares plus $0.93 cash ($0.41 from MITT, $0.52 from MITT Manager). CHMI preferred stock converts one-for-one into new MITT Series D and Series E preferred.
-
Pro Forma Equity of $740M
Combined company expected to have $740M total stockholders' equity ($422M common, $318M preferred) and $259M pro forma common equity market cap based on $5.97 MITT share price on September 29, 2026.
-
Bargain Purchase Gain of $43.5M
Preliminary purchase price allocation shows fair value of net assets acquired exceeds consideration transferred by $43.5M, which would be recorded as a bargain purchase gain under ASC 805.
Analysis · MITT · Real Estate & Construction
MITT has mailed the definitive joint proxy statement/prospectus for its acquisition of Cherry Hill Mortgage Investment Corp, setting December 2, 2026 as the date both companies' stockholders will vote on the deal. The filing confirms the previously announced terms — 0.3063 MITT shares plus $0.93 cash per CHMI share — and adds new detail: a $740M pro forma equity base, a $43.5M bargain purchase gain, and termination fees of $7.99M for MITT and $4.7M for CHMI. The deal remains subject to stockholder approval and regulatory consents from Fannie Mae, Freddie Mac, and state mortgage regulators. With MITT trading near its 52-week low of $5.50, the fixed exchange ratio means CHMI stockholders' consideration has declined in value since announcement, but the merger still provides MITT with scale and a larger equity base.
How filings like this one have moved
In the 30 days to Oct 8, 2026, 28.6% of the 1679 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.57%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, MITT was trading at $5.69 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $181M. The 52-week trading range was $5.50 to $9.27. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.