Two Harbors Completes $12/Share Merger with CrossCountry Mortgage; Stock Delisted
Summary
Two Harbors completed its $12.00 per share all-cash merger with CrossCountry Mortgage on August 25, 2026. Common stock is delisted, the board has been replaced, and preferred stock and senior notes are being redeemed.
Key Events · M&A and Partnerships · TWO
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Merger Completed at $12.00 Per Share
CrossCountry Merger Corp. merged with and into TWO on August 25, 2026. Each share of TWO common stock was canceled and converted into the right to receive $12.00 in cash. TWO became a wholly owned subsidiary of CCM.
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Common Stock Delisted from NYSE
TWO notified the NYSE of the merger consummation and requested suspension of trading and filing of Form 25 to delist and deregister the common stock under Section 12(b). TWO intends to file Form 15 to suspend reporting obligations.
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Preferred Stock Redemption ~$622 Million
All outstanding Series A, B, and C preferred stock will be redeemed at $25.00 per share plus accumulated and unpaid dividends, with aggregate consideration expected to be approximately $622.0 million, to be completed within 120 days.
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Senior Notes Repurchase ~$120 Million
TWO will offer to repurchase all $115.0 million of its 9.375% Senior Notes due 2030 at 104% of principal plus accrued interest, with aggregate consideration expected to be approximately $120.0 million. Any notes not tendered will be addressed through an indenture discharge.
Analysis · TWO · Real Estate & Construction
The $12.00 per share all-cash merger with CrossCountry Mortgage closed on August 25, 2026, converting every outstanding share of TWO common stock into the right to receive $12.00 in cash. TWO is now a wholly owned subsidiary of CCM, its common stock has been delisted from the NYSE, and the entire board has been replaced. The filing also details the redemption of all preferred stock (~$622 million) and the repurchase of $115 million of senior notes at 104% of principal (~$120 million). This is the final step in a transaction that has been contested and litigated for months, and it permanently ends TWO's existence as a public company.
How filings like this one have moved
In the 30 days to Aug 25, 2026, 43.9% of the 999 measured filings Wiseek scored 9 moved their stock by 5% or more by the next session's close. The median move was -0.15%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, TWO was trading at $12.10 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $1.3B. This filing was assessed with neutral market sentiment and an importance score of 9 out of 10.