Two Harbors stockholders approve CrossCountry Mortgage merger at $12 a share

Two Harbors Investment Corp. (NYSE: TWO) announced that its common stockholders voted to approve the company's merger with CrossCountry Mortgage, LLC at a reconvened Special Meeting of Stockholders held July 2, 2026. The vote results are preliminary and subject to final certification by an independent inspector of elections.

Under the terms of the merger agreement, dated March 27, 2026, CrossCountry Merger Corp., a wholly owned subsidiary of CrossCountry Mortgage, will merge with and into Two Harbors, with Two Harbors surviving as a wholly owned subsidiary of CrossCountry Mortgage.

Each outstanding share of Two Harbors common stock will be converted into $12.00 in cash, without interest. Common stockholders will also receive a pro-rated stub dividend for the portion of the quarter in which the closing occurs, based on the most recent quarterly dividend and the number of days elapsed in the quarter through the day prior to closing.

Holders of Two Harbors' Series A, Series B, and Series C preferred stock will have their shares redeemed following the closing at $25.00 per share, plus any accumulated and unpaid dividends.

The transaction received early termination of the Hart-Scott-Rodino antitrust waiting period on May 21, 2026. Of 53 required state regulatory and agency approvals, 48 have been received. The merger is expected to close in August 2026, subject to receipt of the remaining approvals and other customary closing conditions.

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