M&A · Financials · Real Estate Investment Trusts
Terra Property Trust, Inc. to acquire Western Asset Mortgage Capital Corp
Announced Jun 28, 2023 · Terminated Aug 8, 2023
Deal value$64M
Premium—To unaffected price
EV / Adj. EBITDA—
ConsiderationAll stock$10.65 per share
Transaction
- Acquirer
- Terra Property Trust, Inc. (TPTS)
- Target
- Western Asset Mortgage Capital Corp (WMC)
- Buyer type
- Strategic
- Offer price per share
- $10.65
- Enterprise value
- —
- Status
- Terminated Aug 8, 2023
Deal protections
- Break fee (target pays)
- —
- Reverse fee (buyer pays)
- $7.0M · 10.9%
- Go-shop
- No-shop
- Financing
- —
Advisors
- To the acquirer
- Raymond James
- To the target
- Citizens
Sector context · Financials
- Comparable deals
- 71 in the prior 24 months
- Premium
- Sector median 30.0%
- EV / Adj. EBITDA
- Sector median 23.7x
- Break fee
- Sector median 3.4%
Timeline
- AnnouncedJun 28, 2023
- TerminatedAug 8, 2023