Stinson Advises Two Harbors in $295 Million Public Offering of Series C Preferred Stock
Stinson Leonard Street served as lead counsel to Two Harbors Investment Corp. (NYSE:TWO) in its $295 million public offering of 11,800,000 shares of its 7.25% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, liquidation preference $25 per share, for gross proceeds of approximately $295 million, before deducting the underwriting discount and other estimated offering expenses. Morgan Stanley & Co. LLC, UBS Securities, LLC, J.P. Morgan Securities LLC and RBC Capital Markets, LLC, 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 at Two Harbors Investment Corp.'s website.