MergerApr 29, 2026, 08:53 AM
TWO: CCM Raises Acquisition Offer to $11.30/Share; Q1 Net Income $19.48M
AI Summary
Two Harbors Investment Corp. announced an amendment to its merger agreement with CrossCountry Intermediate Holdco, LLC (CCM), increasing the all-cash acquisition price to $11.30 per share from $10.80. This follows the termination of a previous merger agreement with UWM Holdings Corporation, for which CCM paid a $25.4 million termination fee. The company also reported a return to profitability in Q1 2026, with net income attributable to common stockholders of $19.48 million, or $0.18 per basic share, compared to a loss in the prior year.
Key Highlights
- CCM to acquire TWO for $11.30 per share in cash, up from $10.80.
- UWM Merger Agreement terminated; CCM paid $25.4M termination fee.
- Q1 2026 net income attributable to common stockholders was $19.48M.
- Basic EPS for Q1 2026 was $0.18, compared to $(0.89) in Q1 2025.
- Net interest expense improved to $(6.51M) from $(20.33M) YoY.
- Common dividends declared were $36.10M in Q1 2026.
- Total Assets decreased to $10.53B from $10.86B QoQ.