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Two Harbors Investment Corp. — Preferred Stock Offering
Company: Two Harbors Investment Corp.
Date announced: 7/12/2017
Shares Offered: 10,000,000
Date of Pricing: 7/12/2017
Price Per Share: $25.00
Preferred Stock Offering Details: Two Harbors Investment Corp. (NYSE:TWO) announced today the pricing of its underwritten public offering of 10,000,000 shares of its 7.625% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (the "Series B Preferred Stock"), liquidation preference $25.00 per share, for gross proceeds of approximately $250 million, before deducting the underwriting discount and other estimated offering expenses. The company also granted the underwriters of the offering a 30-day option to purchase up to an additional 1,500,000 shares of Series B Preferred Stock to cover over-allotments, if any. The offering is expected to close on or about July 19, 2017, subject to customary closing conditions. The company intends to apply to list the Series B Preferred Stock on the New York Stock Exchange under the symbol "TWO PRB".
Company: Two Harbors Investment Corp.
Date announced: 7/12/2017
Shares Offered: 10,000,000
Date of Pricing: 7/12/2017
Price Per Share: $25.00
Preferred Stock Offering Details: Two Harbors Investment Corp. (NYSE:TWO) announced today the pricing of its underwritten public offering of 10,000,000 shares of its 7.625% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (the "Series B Preferred Stock"), liquidation preference $25.00 per share, for gross proceeds of approximately $250 million, before deducting the underwriting discount and other estimated offering expenses. The company also granted the underwriters of the offering a 30-day option to purchase up to an additional 1,500,000 shares of Series B Preferred Stock to cover over-allotments, if any. The offering is expected to close on or about July 19, 2017, subject to customary closing conditions. The company intends to apply to list the Series B Preferred Stock on the New York Stock Exchange under the symbol "TWO PRB".
