Mergers & Acquisitions ·
Two Harbors Investment Corp. completed its merger with CrossCountry Merger Corp., a subsidiary of CrossCountry…
TWO-PCTwo Harbors Investment Corp.
Two Harbors Investment Corp. completed its merger with CrossCountry Merger Corp., a subsidiary of CrossCountry Intermediate Holdco LLC, on August 25, 2026. Each share of TWO common stock was canceled and converted into the right to receive $12.00 in cash per share. Additionally, holders of record as of August 24, 2026, received a stub period dividend of $0.20326 per share, paid concurrently with the merger consideration. TWO became a wholly owned subsidiary of CCM, and its common stock was delisted from the New York Stock Exchange. The company intends to redeem all outstanding preferred stock for $25.00 per share plus accrued dividends within 120 days and offer to repurchase approximately $115 million of its 9.375% Senior Notes due 2030 at 104% of principal. This transaction represents a significant change in control, with the board of directors resigning and Ron Leonhardt appointed as director. Two Harbors Investment Corp. operates in the real estate investment trust industry, focusing on mortgage servicing rights and residential mortgage-backed securities.