Stinson Advises Two Harbors in $287.5 Million Public Offering of Series B Preferred Stock
Stinson Leonard Street LLP served as lead counsel to Two Harbors Investment Corp. (NYSE:TWO) in its $287.5 million public offering of 11,500,000 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 $287.5 million, before deducting the underwriting discount and other estimated offering expenses. Morgan Stanley & Co. LLC, UBS Securities, LLC, J.P. Morgan Securities LLC and Keefe, Bruyette & Woods, Inc., acted as joint book-running managers for the offering.
Two Harbors Investment Corp., a Maryland corporation, is a real estate investment trust that invests in residential mortgage-backed securities, mortgage servicing rights and other financial assets. Two Harbors is headquartered in New York, New York, and is externally managed and advised by PRCM Advisers LLC, a wholly owned subsidiary of Pine River Capital Management L.P.
More information on the transaction is available on the Two Harbors Investment Corp. website.