AG Mortgage Investment Trust, an Angelo, Gordon-managed REIT planning to invest in residential mortgage assets, lowered the proposed deal size for its upcoming IPO on Monday. The New York, NY-based company now plans to raise $250 million by offering 12.5 million shares at an estimated price of $20 per share. The company had previously filed to offer 20 million shares at $15 per share ($300 million deal size). At the mid-point of the revised range, AG Mortgage Investment Trust will raise -17% fewer proceeds than previously anticipated. AG Mortgage Investment Trust plans to list on the NYSE under the symbol MITT. BofA Merrill Lynch, J.P. Morgan and UBS Investment Bank are the lead underwriters on the deal, which is expected to price the week of April 25.
