Company: TWO-PC
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0001465740-25-000104
Chunk: 58

Company: TWO HARBORS INVESTMENT CORP.
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 1
Chunk 58
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. (dollars in thousands)Class of StockIssuance DateShares Issued and OutstandingCarrying ValueContractual RateRedemption Eligible Date (1)Fixed to Floating Rate Conversion Date (2) Floating Annual Rate (3)Series AMarch 14, 20175,050,221 $121,971 8.125 %April 27, 2027April 27, 20273M Rate + 5.660%Series BJuly 19, 201710,159,200 245,670 7.625 %July 27, 2027July 27, 20273M Rate + 5.352%Series CNovember 27, 20179,661,396 233,826 7.250 %January 27, 2025January 27, 20253M Rate + 5.011%Total24,870,817 $601,467 ____________________(1)Subject to the Company’s right under limited circumstances to redeem the preferred stock earlier than the redemption eligible date disclosed in order to preserve its qualification as a REIT or following a change in control of the Company. (2)The dividend rate on the fixed-to-floating rate redeemable preferred stock will remain at an annual fixed rate of the $25.00 per share liquidation preference from the issuance date up to but not including the transition date disclosed within. Effective as of the fixed-to-floating rate conversion date and onward, dividends will accumulate on a floating rate basis according to the terms disclosed in footnote (3) below.(3)On and after the fixed-to-floating rate conversion date, dividends will accumulate and be payable quarterly at a percentage of the $25.00 per share liquidation preference equal to a floating base rate plus the spread indicated with respect to each series of preferred stock. The floating base rate with respect to each series of preferred stock, following the applicable conversion date, is the three-month CME Term SOFR plus a tenor spread of 0.26161%. For each series of preferred stock, the Company may redeem the stock on or after the redemption eligible date in whole or in part, at any time or from time to time. The Company may also purchase shares of preferred stock from time to time in the open market by tender or in privately negotiated transactions. Each series of preferred stock has a par value of $0.01 per share and a liquidation and redemption price of $25.00, plus any accumulated and unpaid dividends