Two Harbors Investment Corp. (TWO) announced that it has completed its public offering of 50 million shares of its common stock and issuance of an additional 7.5 million shares of common stock.
The company noted that the total offering of 57.5 million shares produced net proceeds of about $763 million, after deducting underwriting discounts and estimated offering expenses.
The company said it expects to use the net proceeds from this offering to make additional acquisitions of its target assets, including residential mortgage-backed securities, prime jumbo residential mortgage loans, credit sensitive residential mortgage loans and mortgage servicing rights, and for other general corporate purposes.
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