Cherry Hill Mortgage agrees to merge into TPG Mortgage Investment Trust in $117.5 million deal
On August 9, 2026, Cherry Hill Mortgage Investment Corporation (CHMI) signed a merger agreement under which TPG Mortgage Investment Trust (MITT) will acquire it. CHMI common stockholders will receive 0.3063 MITT shares and $0.93 in cash per share, which the companies say implies $3.10 per CHMI share, a 29% premium to the August 7, 2026 closing price. The deal requires approval from both companies' stockholders and regulatory approvals, and is expected to close in the fourth quarter of 2026.
Key points
- Consideration per CHMI share: 0.3063 MITT common shares plus $0.93 in cash, implying $3.10 per share based on the August 7, 2026 MITT closing price.
- Premium: 29% to CHMI's August 7, 2026 closing price and 32% to its 30-day volume weighted average price; implied transaction value of $117.5 million.
- Pro forma ownership of the combined company: about 73% held by MITT stockholders and about 27% by CHMI stockholders.
- Expected closing in the fourth quarter of 2026, subject to stockholder approvals, regulatory approvals and other closing conditions.
The filing
Written by AI on Nov 9, 2026, 8:38 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 10, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.