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Two Harbors Investment Corp | 7.50% Series E Cumulative Redeemable Preferred Stock (TWO.PRE)
Prospectus excerpt: CYS Investments, Inc. is offering to the public 8,000,000 shares of its 7.50% Series B Cumulative Redeemable Preferred Stock, which we refer to in this prospectus supplement as the Series B Preferred Stock. This is an original issuance of the Series B Preferred Stock. We will pay quarterly cumulative dividends on the shares of the Series B Preferred Stock, in arrears, on the 15th day of each January, April, July and October commencing on July 15, 2013 (provided that if any dividend payment date is not a business day, then the dividend that would otherwise have been payable on that dividend payment date may be paid on the next succeeding business day) from, and including, the date of original issuance at 7.50% of the $25.00 per share liquidation preference per annum (equivalent to $1.875 per annum per share). The Series B Preferred Stock will not be redeemable before April 30, 2018, except under circumstances where it is necessary to preserve our qualification as a real estate investment trust, or REIT, for federal income tax purposes and except as described below upon the occurrence of a Change of Control (as defined herein). On or after April 30, 2018, we may, at our option, redeem any or all of the shares of the Series B Preferred Stock at $25.00 per share plus any accumulated and unpaid dividends to, but not including, the redemption date. In addition, upon the occurrence of a Change of Control, we may, at our option, redeem any or all of the shares of Series B Preferred Stock within 120 days after the first date on which such Change of Control occurred at $25.00 per share plus any accumulated and unpaid dividends to, but not including, the redemption date. The Series B Preferred Stock has no stated maturity, is not subject to any sinking fund or mandatory redemption and will remain outstanding indefinitely unless repurchased or redeemed by us or converted into our common stock in connection with a Change of Control by the holders of Series B Preferred Stock. Full Prospectus PDF », Secondary Prospectus PDF », TWO Page »
Series: | E | Alternate symbology: | TWO-E, TWO-PE, TWOprE | Redeemable?: | Yes | Call Date: | 4/30/2018 (Now Trading Post Call Date) | Perpetual?: | Yes | Cumulative?: | Yes | Shares Offered: | 8,000,000 | Overallotment: | 1,200,000 | Liquidation Preference: | $25.00 | Original Coupon: | 7.50% | Pay Period: | Quarterly | Pay Dates: | 15-Jan, 15-Apr, 15-Jul, 15-Oct | CDx3 Compliance Rating: |
Learn TWO.PRE's Rating
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Two Harbors Investment is a holding company. Through its subsidiaries, Co. operates as a real estate investment trust (REIT) focused on investing in, financing and managing Agency residential mortgage-backed securities (Agency RMBS), mortgage servicing rights (MSR), and other financial assets, which it collectively refers to as its target assets. Co. is externally managed and advised by PRCM Advisers LLC, a wholly-owned subsidiary of Pine River Capital Management L.P. Co.'s portfolio includes assets that are primarily sensitive to changes in interest rates, prepayments and mortgage spreads, including but not limited to Agency RMBS, MSR and related hedging transactions. Preferreds: TWO.PRD, TWO.PRE, TWO.PRA, TWO.PRB, TWO.PRC Open the TWO Information Page »
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Name: |
Two Harbors Investment Corp |
Website: |
www.twoharborsinvestment.com |
Sector: |
REITs |
Number of ETFs Holding TWO: |
50 (see which ones) |
Total Market Value Held by ETFs: |
$362,648,827.08 |
Total Market Capitalization: |
$1,199,000,000 |
% of Market Cap. Held by ETFs: |
30.25% |
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