Two Harbors Adjourns Shareholder Vote on CrossCountry Mortgage Merger to May 28th

summarizeSummary

Two Harbors Investment Corp. has adjourned its special shareholder meeting for the CrossCountry Mortgage merger vote to May 28, 2026, to allow more time for proxy solicitation, while the board continues to unanimously recommend the deal.

check_boxKey Events

• Special Meeting Adjourned

  The virtual special meeting of stockholders for the proposed acquisition by CrossCountry Intermediate Holdco, LLC has been adjourned to May 28, 2026, at 10:00 a.m. Eastern Time, to provide additional time for proxy solicitation.

• Board Recommends "FOR"

  The Board of Directors continues to unanimously recommend that stockholders vote "FOR" the CrossCountry Mortgage transaction.

• Litigation Motion Denied

  A plaintiff's motion for a temporary restraining order seeking to delay the stockholder vote was denied by the U.S. District Court, which found Two Harbors' proxy disclosures sufficient.

• Merger Terms Confirmed

  The definitive merger agreement, as amended, provides for Two Harbors common stockholders to receive $12.00 in cash for each share, plus additional value from second and pro-rated third quarter dividends.

auto_awesomeAnalysis

The adjournment of the special meeting to approve the CrossCountry Mortgage acquisition indicates the company needs more time to secure shareholder votes. While the board unanimously recommends the deal, this delay introduces a degree of uncertainty regarding the transaction's timeline. However, a court ruling denied a motion to delay the vote, finding the company's disclosures sufficient, which removes a potential legal hurdle and supports the ongoing merger process.