Stinson Advises Two Harbors in $287.5 Million Public Offering of Series B Preferred Stock

07.27.2017

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.

Attorneys included Steve Quinlivan, David Jenson, Bryan Pitko and Andrew Kuettel.

More information on the transaction is available on the Two Harbors Investment Corp. website.