Acquisition Offer Raised to $12.00/Share in Cash; Board Reaffirms Recommendation

summarizeSummary

Two Harbors Investment Corp. announced a second amendment to its merger agreement, raising the cash acquisition price to $12.00 per share and securing additional financing, with the board reaffirming its support.

check_boxKey Events

• Acquisition Price Increased

  The cash consideration for each share of common stock was raised from $11.30 to $12.00, a $0.70 per share increase, under the Second Amendment to the merger agreement.

• Merger Agreement Amended

  This filing details the Second Amendment to the original merger agreement with CrossCountry Intermediate Holdco, LLC, dated March 27, 2026, which was previously amended on April 28, 2026.

• Additional Financing Secured

  CrossCountry Intermediate Holdco, LLC, obtained an additional $1.4 billion unsecured financing commitment, bringing total committed debt financing to $3.4 billion for the merger.

• Termination Fee Raised

  The company termination fee payable by Two Harbors to CrossCountry was increased from $50.0 million to $51.0 million.

auto_awesomeAnalysis

Two Harbors Investment Corp. has amended its merger agreement with CrossCountry Intermediate Holdco, LLC, increasing the cash acquisition price for shareholders from $11.30 to $12.00 per share. This marks the second increase in the offer, following an initial $10.80 per share agreement, and strengthens the deal's terms for shareholders. The board unanimously reaffirmed its recommendation for the merger.