AG Mortgage Investment Trust, Inc. (MITT)

[getmoreshares]

On May 1, 2020, BCAT 2020-23TT (the “Seller”), a subsidiary of AG Mortgage Investment Trust, Inc. (the “Company”), entered into a Bid Terms Acknowledgment Letter (the “Letter Agreement”) with an unaffiliated third party (the “Purchaser”), evidencing the Purchaser’s intent to purchase, and the Seller's intent to sell, the pool of mortgage loans set forth therein (the “Loans”) having an approximate unpaid principal balance of approximately $469 million (the “Loan Sale”) for a purchase price of approximately $383 million. The Loan Sale is subject to the terms and conditions set forth in the Letter Agreement and the entry by the Seller, the Company, and an affiliate of the Purchaser into a Mortgage Loan Purchase and Sale Agreement (the “MLPA”). The principal terms and conditions set forth in the Letter Agreement for the Loan Sale are summarized below.

Is this a 86 mill loss from the sale??