Two Harbors Investment Corp. Announces Pricing of Common Stock Offering
NEW YORK--(BUSINESS WIRE)-- Two Harbors Investment Corp. (NYSE: TWO; NYSE MKT: TWO.WS) today announced that it has priced a public offering of 50,000,000 shares of its common stock at an offering price of $13.46 per share, for total gross proceeds (before underwriting discount and commissions and estimated expenses) of approximately $673.0 million. The company has granted the underwriters an option for 30 days to purchase up to an additional 7,500,000 shares of the company’s common stock to cover over-allotments, if any. The offering is expected to close on or about March 22, 2013.
The company expects to use the net proceeds from this offering to make additional acquisitions of its target assets, including residential mortgage-backed securities, prime jumbo residential mortgage loans, credit sensitive residential mortgage loans and mortgage servicing rights, and for other general corporate purposes.
Credit Suisse Securities (USA) LLC is acting as the lead book-running manager for the offering. Barclays Capital Inc., BofA Merrill Lynch and Goldman, Sachs & Co. are also acting as book-running managers.
The offering will be made pursuant to the company’s existing shelf registration statement previously filed with and declared effective by the Securities and Exchange Commission on May 18, 2012 (Commission File No. 333-180791). The offering will be made only by means of a prospectus supplement and accompanying prospectus. Copies of the prospectus supplement and accompanying prospectus, when available, may be obtained by contacting:
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Credit Suisse Securities (USA) LLC One Madison Avenue New York, New York 10010 Attention: Prospectus Department or by telephone at (800) 221-1037 or by emailing |
Barclays Capital Inc. c/o Broadridge Financial Solutions 1155 Long Island Avenue Edgewood, NY 11717 Telephone: (888) 603-5847 or by emailing |
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BofA Merrill Lynch 222 Broadway New York, NY 10038 Attention: Prospectus Department or by emailing |
Goldman Sachs & Co. 200 West Street New York, NY 10282 Attention: Prospectus Department Telephone: (866) 471-2526 Facsimile: 212-902-9316 or by emailing |
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This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, nor shall there be any sale of the company’s securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
About Two Harbors Investment Corp.
Two Harbors Investment Corp., a Maryland corporation, is a real estate investment trust that invests in residential mortgage-backed securities, residential mortgage loans, mortgage servicing rights and other financial assets.
Cautionary Notice Regarding Forward-Looking Statements
This release may include statements and information that constitute “forward-looking statements” within the meaning of section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities Exchange Act of 1934, as amended, and we intend such forward-looking statements to be covered by the safe harbor provisions therein and are included in this statement for purposes of invoking these safe harbor provisions. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, targets, expectations, anticipations, assumptions, estimates, intentions and future performance. The forward-looking statements made in this release include, but may not be limited to, expectations regarding the timing of closing the offering and the use of proceeds from the offering.
Forward-looking statements are not guarantees, and they involve risks, uncertainties and assumptions. There can be no assurance that actual results will not differ materially from our expectations. We caution investors not to rely unduly on any forward-looking statements and urge you to carefully consider the risks identified under the captions “Risk Factors,” “Forward-Looking Statements” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our public filings with the SEC, which are available on the SEC’s website at www.sec.gov.
All written or oral forward-looking statements that we make, or that are attributable to us, are expressly qualified by this cautionary notice. We expressly disclaim any obligation to update the information in any public disclosure if any forward-looking statement later turns out to be inaccurate.
Investors:
Two Harbors Investment Corp.
July Hugen, Investor
Relations
612-629-2514
july.hugen@twoharborsinvestment.com
Source: Two Harbors Investment Corp.
Released March 19, 2013
