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Slideshow Preferred Stock Offerings

By Ru Back Packer Staff, updated Thursday, February 1, 9:06 AM

Slide #68. Two Harbors Investment Corp Preferred Stock Offering

Company: Two Harbors Investment Corp (NYSE:TWO)
Date announced: 3/7/2017
Shares Offered: 5,000,000
Date of Pricing: 3/7/2017
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 5,000,000 shares of its 8.125% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (the "Series A Preferred Stock"), liquidation preference $25.00 per share, for gross proceeds of approximately $125 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 750,000 shares of Series A Preferred Stock to cover over-allotments, if any. The offering is expected to close on or about March 14, 2017, subject to customary closing conditions. The Company intends to apply to list the Series A Preferred Stock on the New York Stock Exchange under the symbol "TWO PRA".

Two Harbors Investment is a holding company. Through its subsidiaries, Co. operates as a real estate investment trust focused on investing in, financing and managing residential mortgage-backed securities (RMBS), mortgage servicing rights (MSR), commercial real estate and other financial assets, which Co. refers to as its target assets. Co.'s target assets include agency RMBS, whose principal and interest payments are guaranteed by the Government National Mortgage Association, the Federal National Mortgage Association, or the Federal Home Loan Mortgage Corporation; non-agency RMBS; MSR; commercial real estate debt and related assets; and other financial assets.
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Name: Two Harbors Investment Corp
Website: twoharborsinvestment.com
Sector: REITs
Number of ETFs Holding TWO: 43 (see which ones)
Total Market Value Held by ETFs: $260,636,998
Total Market Capitalization: $2,638,000,000
% of Market Cap. Held by ETFs: 9.88%

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