Terra Property Trust, Inc. Releases Additional Information Related to Exchange Offers and Hires Restructuring Advisors

Core Viewpoint - Terra Property Trust, Inc. is conducting exchange offers for its existing unsecured senior notes to improve its financial position by offering newly issued secured notes with better terms [1][4]. Group 1: Exchange Offers - The company filed a registration statement for exchange offers to swap its unsecured 6.00% and 7.00% Senior Notes for newly issued 7.00% Senior Secured Notes due in 2029 [1]. - Each $25 principal amount of existing notes will be exchanged for $25 principal amount of the new secured notes, which will be backed by a first lien pledge in the equity interests of certain subsidiaries [1]. - As of March 12, 2026, only 3.80% of the TPT Notes and 0.37% of the TIF6 Notes have been tendered in connection with the exchange offers [4]. Group 2: Financial Position - TIF6 has an outstanding principal balance of approximately $38.4 million and cash equivalents of $0.4 million as of December 31, 2025 [3]. - The company owes TIF6 approximately $48.1 million under a promissory note due on March 31, 2027, and has no obligation to lend further to TIF6 for repayment of the TIF6 Notes [3]. - The company has an outstanding principal balance of approximately $80.4 million for the TPT Notes and cash equivalents of approximately $33.2 million as of December 31, 2025 [3]. Group 3: Strategic Actions - The company has engaged Portage Point Partners, LLC as restructuring banker and Alston & Bird LLP as restructuring counsel to explore strategic alternatives, including restructuring options [5]. - Ladenburg Thalmann & Co. Inc. is serving as Dealer Manager for the exchange offers, indicating a structured approach to managing the existing notes [5]. - The company is evaluating all options regarding the existing notes while adhering to its fiduciary duties [5]. Group 4: Company Overview - Terra Property Trust, Inc. is an externally managed real estate investment trust that focuses on loans and assets secured by commercial real estate across the U.S. [6]. - The company's objective is to provide attractive risk-adjusted returns primarily through high current income and potential capital appreciation [6].