Traders should monitor the shareholder vote and regulatory approval process, as these are key hurdles for deal completion. The significant premium suggests limited downside risk, but litigation risk from shareholders is possible. The termination fee paid to UWM indicates CrossCountry's strong commitment to the deal.
Price Chart
Executive Summary
Two Harbors Investment Corp. (TWOD) has agreed to be acquired by CrossCountry Intermediate Holdco, LLC for $10.80 per share in cash, terminating a prior merger agreement with UWM Holdings. The deal, valued at approximately $1.13 billion based on outstanding common shares, is subject to shareholder and regulatory approval and is expected to close in the second half of 2026. This transaction follows TWOD's termination of its previous merger with UWM, for which CrossCountry paid a $25.4 million termination fee on TWOD's behalf.
Key Facts
- Two Harbors Investment Corp. (TWOD) will be acquired by CrossCountry Intermediate Holdco, LLC for $10.80 per share in cash.
- The merger consideration represents a 25% premium to TWOD's closing price on March 26, 2026.
- CrossCountry paid a $25.4 million termination fee to UWM Holdings on behalf of TWOD to exit a prior merger agreement.
- The transaction is expected to close in the second half of 2026, subject to shareholder approval and regulatory clearances.
- TWOD's common stock will be delisted from the NYSE upon completion, and the company will become a wholly-owned subsidiary of CrossCountry.
- Holders of TWOD's Series A, B, and C preferred stock will have their shares redeemed at $25.00 per share plus accumulated dividends.
Financial Impact
The total equity value of the deal is approximately $1.13 billion, based on 105,043,735 outstanding shares of common stock at $10.80 per share. CrossCountry also paid a $25.4 million termination fee to UWM.
Risk Factors
- Failure to obtain shareholder approval
- Regulatory hurdles or delays
- Potential stockholder litigation
- Risk of competing bids
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| DEFA14A Filing (Primary) | 0001104659-26-035664 |
| Document: tm269980d2_defa14a.htm | 0001104659-26-035664 |
| Document: tm269980d2_ex99-1.htm | 0001104659-26-035664 |
| Document: 0001104659-26-035664-index-headers.html | 0001104659-26-035664 |
| Document: 0001104659-26-035664-index.html | 0001104659-26-035664 |
| Document: 0001104659-26-035664.txt | 0001104659-26-035664 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jun 8, 2026 16w ago | DEFA14A | $25.34 $26.09 | ▲ +2.96% | ▼ −0.09% | $26.33 (+3.91%) |
Jun 8, 2026 16w ago | DEFA14A | $25.34 $26.09 | ▲ +2.96% | ▼ −0.09% | $26.33 (+3.91%) |
Jun 8, 2026 16w ago | 8-K | $25.34 $26.09 | ▲ +2.96% | ▼ −0.09% | $26.33 (+3.91%) |
Jun 3, 2026 17w ago | DEFA14A | $25.39 $26.06 | ▲ +2.64% | ▲ +0.14% | $26.33 (+3.70%) |
May 19, 2026 19w ago | DEFA14A | $25.24 $25.38 | ▲ +0.55% | ▼ −4.45% | $26.33 (+4.32%) |
May 19, 2026 19w ago | 8-K | $25.24 $25.38 | ▲ +0.55% | ▼ −4.45% | $26.33 (+4.32%) |
May 15, 2026 20w ago | DEFA14A | $25.30 $25.28 | ▲ +0.08% | ▲ +4.59% | $26.33 (−4.07%) |
May 15, 2026 20w ago | 8-K | $25.30 $25.28 | ▲ +0.08% | ▲ +4.59% | $26.33 (−4.07%) |
May 14, 2026 20w ago | 144 | $25.30 $25.28 | ▼ −0.08% | ▼ −4.59% | $26.33 (+4.07%) |
May 14, 2026 20w ago | DEFA14A | $25.26 $25.35 | ▲ +0.36% | ▼ −3.23% | $26.33 (+4.24%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access