Two Harbors Investment (TWO) Drops By 9% After Public Offering Of $40 Million

On July 7, Two Harbors Investment (TWO) stock was worth $7.28. On July 8 the price has crashed to $7.05, marking a -3% decrease. By July 9 the stock price surged to $7.39. Since then, the stock has been stable until today it dropped by 9.42%. As of right now, the company is trading at $6.64.Two Harbors Investment Corp. has priced its public offering of $40,000,000 common shares. As previously announced, the Company has priced its underwritten public offering of 4,000,000 shares of common stock. The Company plans to use the proceeds from this offering to acquire its target assets, which are expected to be residential mortgage-Backed securities and other financial assets. Morgan Stanley and Goldman Sachs & Co. are acting as joint book-runners for the offering.

Two Harbors Investment Trust, a real estate investment trust, has commenced an underwritten public offering of $40M common shares. Net proceeds from the sale of these assets are used to acquire other target assets, which are subject to the company’s investment guidelines and general purposes.

Richard McEntire

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