Company: TWO-PC
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001465740-25-000140
Chunk: 91

Company: TWO HARBORS INVESTMENT CORP.
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 1
Chunk 91
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 prior notice to or obtaining any consent of the holders. The net proceeds from the offering were approximately $110.8 million after deducting underwriting discounts and estimated offering expenses payable by the Company. As of June 30, 2025, the outstanding amount due on the senior notes was $110.9 million, net of deferred issuance costs.Convertible Senior NotesThe Company’s convertible senior notes are unsecured, pay interest semiannually at a rate of 6.25% per annum and are convertible at the option of the holder into shares of the Company’s common stock. As of both June 30, 2025 and December 31, 2024, the convertible senior notes had a conversion rate of 33.8752 shares of common stock per $1,000 principal amount of the notes. The convertible senior notes will mature in January 2026, unless earlier converted or repurchased in accordance with their terms. The Company does not have the right to redeem its convertible senior notes prior to maturity, but may repurchase the notes in open market or privately negotiated transactions at the same or differing price without giving prior notice to or obtaining any consent of the holders. The Company may also be required to repurchase the convertible senior notes from holders under certain circumstances. The Company did not repurchase any of its convertible senior notes during the three and six months ended June 30, 2025. During both the three and six months ended June 30, 2024, the Company repurchased $10.0 million principal amount of its convertible senior notes in open market transactions for an aggregate cost of $9.7 million. The difference between the consideration transferred and the carrying value of the convertible senior notes repurchased resulted in a gain of $0.2 million for the three and six months ended June 30, 2024, which was recorded within the other income line item on the consolidated statements of comprehensive (loss) income.As of both June 30, 2025 and December 31, 2024, $261.9 million principal amount of convertible senior notes remained outstanding. The outstanding amount due on the convertible senior notes as of June 30, 2025 and December 31, 2024 was $260.9 million and $260.2 million, respectively, net of unamortized deferred issuance costs.

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Table of ContentsTWO HARBORS INVESTMENT CORP.Notes to the Consolidated Financial Statements (unaudited)

Future MaturitiesAt