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High materiality9/10

CHMI to be acquired by MITT in $117.5 million deal at $3.10 per CHMI share

Aug 10, 2026, 6:49 AM EDT1 sourcesAI-analyzed

Why it may matterVerify against the original reporting

The deal creates a clear, premium-based exit value for CHMI shareholders, reducing downside risk and providing near-term upside toward the $3.10 implied price. However, closing remains contingent on regulatory and stockholder approvals, so upside is conditioned on transaction progress and timing.

AI summary

What happened, with direct paths to the underlying reporting

Cherry Hill posted Q2 2026 GAAP net income of $1.3M ($0.04/sh) and EAD of $5.5M ($0.15/sh). The company also disclosed a definitive merger with MITT valued at $117.5M, implying $3.10 per CHMI share, likely to reprice the stock near completion. Closing is anticipated in Q4 2026, subject to approvals.

Q2 2026 GAAP net income: $1.3M, $0.04/sh; EAD: $5.5M, $0.15/sh.
Common BVPS: $3.16; regular dividend $0.10; yield 16.6%.
Leverage 5.02x; unrestricted cash $52.1M as of 6/30/2026.
On Aug 10, 2026 CHMI-MITT merger; implied value $117.5M; 29% premium to close.
Webcast canceled; closing expected Q4 2026; merger unanimously approved.

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CHMI to be acquired by MITT in $117.5 million deal at $3.10 per CHMI share

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