Two Harbors urges stockholder vote on $12-per-share CrossCountry deal

Two Harbors Investment Corp. (NYSE: TWO) issued a statement urging stockholders to vote in favor of its pending acquisition by CrossCountry Mortgage, LLC, warning that failure to approve the deal risks a significant decline in the company's stock price.

The transaction offers $12.00 per share in cash to all TWO stockholders, plus an estimated pro-rated stub dividend of approximately $0.23 per share if the deal closes at the end of August 2026. Two Harbors said it has secured 47 of the 53 required regulatory approvals and obtained early termination of the HSR waiting period, with a closing targeted for August 2026.

Two Harbors said it directly engaged with UWM Holdings Corp. (NYSE: UWMC), which had previously expressed interest in acquiring the company, and asked it to submit a revised proposal. According to the statement, UWMC has not submitted a new proposal, contacted Two Harbors or its advisors, or requested due diligence in the 14 days since a waiver window opened.

Two Harbors noted that UWMC's proposed consideration consists primarily of its own common stock. At UWMC's June 18, 2026 closing price of $2.22 per share, Two Harbors said stockholders defaulting into UWMC stock would receive equity worth approximately $5.18 per TWO share. UWMC's stock has declined more than 50% since December 2025 and closed at an all-time low on June 18, 2026, its fourteenth new all-time low over the prior 15 trading sessions.

Two Harbors' board unanimously recommends stockholders vote in favor of the CrossCountry transaction. The information is based on a press release issued by Two Harbors Investment Corp.

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