Two Harbors Investment (TWO) Prices 30 Million Share Offering at $9.90/Share

February 22, 2012 9:14 AM EST
Two Harbors Investment Corp. (NYSE: TWO; NYSE Amex: TWO.WS) today announced that it has priced a public offering of 30,000,000 shares of its common stock at an offering price of $9.90 per share, for total gross proceeds (before underwriting discount and commissions and estimated expenses) of approximately $297.0 million. The Company has granted the underwriters a two-day option to purchase up to an additional 4,500,000 shares of the Company’s common stock to cover over-allotments, if any. The offering is expected to close on or about February 24, 2012.

The company expects to use the net proceeds from this offering to make additional acquisitions of residential mortgage-backed securities, residential mortgage loans, and residential real properties and for other general corporate purposes.

Credit Suisse Securities (USA) LLC acted as the lead book-running manager for the offering. Barclays Capital Inc. and J.P. Morgan Securities LLC acted as book-running managers. JMP Securities LLC and Keefe, Bruyette & Woods, Inc. acted as co-managers.

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