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CHMI to Merge with MITT in $117.5M deal, implying $3.10 per CHMI share

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

Why it may matterVerify against the original reporting

The announced merger creates a clear path for CHMI shareholders to receive a premium in stock and cash, with an implied per-share value around $3.10 and an announced closing timeline, likely supporting a near-term re-rating of CHMI shares toward the MITT-derived value.

AI summary

What happened, with direct paths to the underlying reporting

Cherry Hill posted Q2 2026 GAAP net income of $1.3M and $5.5M EAD, with BV per share of $3.16. It announced a definitive merger with MITT valued at $117.5M, implying CHMI equity at about $3.10 per share through 0.3063 MITT shares and $0.93 cash. Closing is expected in Q4 2026, likely delivering a near-term rerating to CHMI stock.

Q2 2026 GAAP net income: $1.3M; EAD: $5.5M.
Common BV per share: $3.16; regular dividend: $0.10; yield 16.6%.
Aggregate portfolio leverage: 5.02x; unrestricted cash: $52.1M (6/30/2026).
On Aug 10, 2026, CHMI and MITT agree to merger valued at $117.5M.
Offer: 0.3063 MITT shares plus $0.93 cash per CHMI share.

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CHMI to Merge with MITT in $117.5M deal, implying $3.10 per CHMI share

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