MINNETONKA, MN-Two Harbors Investment Corp., a locally based REIT, reports it has completed a secondary stock offering that has raised approximately $763 million.
The company, which invests in residential mortgage-backed securities, issued 57.5 million in a secondary stock offering, including an over-allotment of 7.5 million shares. The firm plans to use the net proceeds from the offering to pursue additional acquisitions, including residential mortgage-backed securities, prime jumbo residential mortgage loans, credit-sensitive residential mortgage loans and mortgage servicing rights, according to the Star Tribune.
Credit Suisse Securities underwrote the secondary offering; Barclays Capital Inc., Bank of America Merrill Lynch and Goldman Sachs & Co. co-managed the offering. See story in the Star Tribune.
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