Two Harbors Announces Public Stock Offering

Posted by Orb Staff on January 12, 2012 No Comments
Categories : Residential Mortgage

10696_78423427 Two Harbors Announces Public Stock Offering New York-based Two Harbors Investment Corp. has priced a public offering of 34 million shares of its common stock at an offering price of $9.17 per share, for total gross proceeds (before underwriting discount and commissions and estimated expenses) of approximately $311.8 million.

According to a press statement issued by Two Harbors, the company expects to use the net proceeds from this offering to make additional acquisitions of residential mortgage-backed securities, residential mortgage loans, real estate and other real estate-related assets, and for other general corporate purposes. The company has granted the underwriters an option for 30 days to purchase up to an additional 5.1 million shares of the company's common stock to cover overallotments, if any.

The offering is expected to close on or around Jan. 17.

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