MergerApr 28, 2026, 04:23 PM
TWO: CCM Merger Offer Raised to $11.30/Share; Q1 Comprehensive Loss $(0.24)
AI Summary
Two Harbors Investment Corp. announced a new definitive merger agreement with CrossCountry Mortgage, LLC, which will acquire all outstanding shares of TWO common stock. The per-share cash consideration was increased to $11.30, up from $10.80, and the previous merger agreement with UWM Holdings Corporation was terminated. For Q1 2026, TWO reported a comprehensive loss of $(24.7) million, or $(0.24) per share, but GAAP Net Income was $19.5 million, or $0.18 per share. The company declared a common stock dividend of $0.34 per share and repaid $261.9 million in convertible senior notes.
Key Highlights
- New definitive merger agreement with CrossCountry Mortgage, LLC to acquire all TWO common stock.
- Per-share cash consideration increased to $11.30 from $10.80.
- Terminated previously announced merger agreement with UWM Holdings Corporation.
- Q1 2026 comprehensive loss of $(24.7) million, or $(0.24) per share.
- Q1 2026 GAAP Net Income $19.5 million, or $0.18 per share.
- Declared Q1 common stock dividend of $0.34 per share.
- Book value of $10.57 per common share at quarter-end.
- Repaid $261.9 million in convertible senior notes.