Granite Point Mortgage Trust Inc. has completed a private offering of $125 million of 5.625% convertible senior notes due Dec. 1, 2022.
Interest on the notes will be payable in cash June 1 and Dec. 1 of each year, beginning June 1, 2018.
The offering yielded net proceeds of about $121.3 million, after deducting any discounts and expected costs. The company plans to use the proceeds to originate and acquire its target assets and for general corporate purposes.
