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Why Two Harbors Stock Was All Wet Today

·1 min read
Why Two Harbors Stock Was All Wet Today
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Tuesday was a particularly damp and soggy day for Two Harbors Investment (NYSE: TWO). Two Harbors announced Tuesday that it would reap gross proceeds of $260 million from a public offering of 40 million shares, putting the per-share price at $6.50. Also, Two Harbors -- a long-standing mortgage real estate investment trust (mREIT) -- has granted the issue's underwriters an option to buy more.