logo
TWO Announces Pricing of Public Offering of Senior Notes

TWO Announces Pricing of Public Offering of Senior Notes

Business Wire06-05-2025

NEW YORK--(BUSINESS WIRE)-- TWO (Two Harbors Investment Corp, NYSE: TWO) (the 'Company'), an MSR-focused REIT, today announced the pricing of an underwritten public offering of $100 million aggregate principal amount of its 9.375% senior notes due 2030 (the 'Notes'). The Notes will be issued in minimum denominations of $25 and integral multiples of $25 in excess thereof. TWO has granted the underwriters a 30-day option to purchase up to an additional $15 million aggregate principal amount of the Notes to cover over-allotments. The offering is expected to close on May 13, 2025, subject to the satisfaction of customary closing conditions.
The Company intends to apply to list the Notes on the New York Stock Exchange ('NYSE') and, if the application is approved, expects trading in the Notes on NYSE to begin within 30 days after the Notes are first issued.
The Company intends to use the net proceeds of the offering for general corporate purposes which may include, among other things, the refinancing or repayment of debt, including the Company's 6.25% senior notes due 2026 and MSR financing, the purchase of the Company's target assets, including MSR, Agency RMBS and other financial assets, in each case subject to the Company's investment guidelines, the repurchase or redemption of the Company's common and preferred equity securities, and other capital expenditures.
The Notes will be senior unsecured obligations of the Company and pay interest quarterly in cash on February 15, May 15, August 15 and November 15 of each year, commencing August 15, 2025. The Notes will mature on August 15, 2030, and may be redeemed, in whole or in part, at any time, or from time to time, at TWO's option on or after May 15, 2027.
Morgan Stanley & Co. LLC, Goldman Sachs & Co. LLC, Piper Sandler & Co., RBC Capital Markets, LLC, UBS Investment Bank and Wells Fargo Securities, LLC acted as joint book-running managers of the offering.
The offering was made pursuant to the Company's existing shelf registration statement, which was declared effective by the Securities and Exchange Commission (the 'SEC') on February 22, 2024. The offering of these securities was made only by means of a prospectus and a related prospectus supplement, which will be filed with the SEC and available on the SEC's website at www.sec.gov. Copies of the prospectus and prospectus supplement related to this offering may also be obtained, when available, by contacting: Morgan Stanley & Co. LLC at 180 Varick St., 2nd Floor, New York, New York 10014, Attention: Prospectus Department, or by telephone: 1-800-584-6837 (Toll-Free); Goldman Sachs & Co. LLC, at 200 West Street, New York, New York 10282, Attention: Prospectus Department, or by telephone: 866-471-2526, or by email: prospectus-ny@ny.email.gs.com; Piper Sandler & Co., at 1251 Avenue of the Americas, 6th Floor, New York, New York 10020, Attention: Debt Capital Markets, or by email: fsg-dcm@psc.com; RBC Capital Markets, LLC at Brookfield Place, 200 Vesey Street, 8th Floor, New York, New York 10281, or by telephone: 1-866-375-6829 (Toll-Free), or by email: rbcnyfixedincomeprospectus@rbccm.com; UBS Investment Bank, 1285 Avenue of the Americas, New York, New York 10019, Attention: Prospectus Department, or by telephone: (833) 481-0269; or Wells Fargo Securities, LLC at 608 2nd Avenue South, Suite 1000, Minneapolis, Minnesota 55402, Attention: WFS Customer Service, or by telephone: 1-800-645-3751 (Toll-Free) or by email: wfscustomerservice@wellsfargo.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Notes or any other securities, nor shall there be any sale of such Notes or any other securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
Cautionary Note Regarding Forward-Looking Statements
This release contains forward-looking statements within the meaning of the Securities Act of 1933 and of the Securities Exchange Act of 1934. Forward-looking statements are not intended to be a guarantee of future results, but constitute the Company's current expectations based on reasonable assumptions. Such forward-looking statements include, but are not limited to, the offering of the Notes and the details thereof and the proposed use of proceeds therefrom, general economic conditions and other risks and uncertainties.
Actual results could differ materially from those projected in the Company's forward-looking statements due to risks, uncertainties and other factors. Important factors that could affect actual results are discussed in the prospectus supplement related to the offering and the Company's filings with the SEC, including, but not limited to, the risks discussed under Item 1A: "Risk Factors" and Item 7: "Management's Discussion & Analysis" in the Company's 2024 Annual Report on Form 10-K and in any subsequent reports filed with the SEC. Potential investors are encouraged to read the Company's filings to learn more about the risk factors associated with the Company's business. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except where required by law.
About TWO
TWO (Two Harbors Investment Corp., NYSE: TWO), a Maryland corporation, is a real estate investment trust that invests in mortgage servicing rights, residential mortgage-backed securities and other financial assets. TWO is headquartered in St. Louis Park, MN.
Additional Information
Stockholders of TWO and other interested persons may find additional information regarding the company at www.twoinv.com, at the Securities and Exchange Commission's internet site at www.sec.gov or by directing requests to: TWO, 1601 Utica Avenue South, Suite 900, St. Louis Park, MN 55416, (612) 453-4100.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

AGM Statement
AGM Statement

Business Wire

timean hour ago

  • Business Wire

AGM Statement

LONDON--(BUSINESS WIRE)-- AltynGold Plc ("AltynGold" or the "Company") CHANGE OF VENUE FOR THE 2025 ANNUAL GENERAL MEETING NEW LOCATION: Hudson Sandler office, 25 Charterhouse Square, LONDON EC1M 6AE London, 10 June 2025 - AltynGold (LSE: ALTN) Notice is hereby given that 2025 Annual General Meeting ('AGM') will be held at Hudson Sandler office, 25 Charterhouse Square, EC1M 6AE, London at 11 am BST Friday, 20th June 2025. Except for the change of venue, all other information set out in Annual report, including the date and time of the meeting, and the resolutions to be considered at the AGM, remain unchanged. Proxy and voting instructions relating to the original venue remain unchanged and will be valid for the new venue. Shareholders are encouraged, should they wish, to submit questions in advance of the Meeting by email to the Company Secretary attention at info@ Further Information: For further information, please contact: AltynGold Plc Rajinder Basra +44 (0) 203 432 3198 The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014, as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018. Information on the Company AltynGold Plc (LSE:ALTN) is an exploration and development company which is listed on the Main Market of the London Stock Exchange. To read more about AltynGold, please visit our website and follow on X at @AltynPlc and on LinkedIn at AltynGold Plc.

Oracle Stock (ORCL) Sustains Bullish Posture and Charges into the AI Era
Oracle Stock (ORCL) Sustains Bullish Posture and Charges into the AI Era

Business Insider

timean hour ago

  • Business Insider

Oracle Stock (ORCL) Sustains Bullish Posture and Charges into the AI Era

Multinational technology magnate Oracle (ORCL) is storming the AI frontier, riding a massive wave of demand for its cutting-edge cloud infrastructure and AI-powered solutions. From blockbuster deals with OpenAI and NVIDIA (NVDA) to a $130 billion backlog, Oracle's performance across the board screams momentum. This surge is fueling explosive top and bottom-line growth, while its exciting EPS outlook makes the current valuation a steal. With the stock now up almost 40% since this time last year, I remain firmly bullish on ORCL. Confident Investing Starts Here: Cloud Infrastructure Powers the AI Revolution Oracle's primary growth engine today is its Cloud Infrastructure (OCI), which is capitalizing on the AI boom sweeping the tech industry. In its most recent fiscal Q3, OCI revenue surged 51% year-over-year to $2.7 billion, outpacing major hyperscale competitors such as AWS and Azure. CEO Safra Catz pointed to 'record-level AI demand' as the key catalyst, with Oracle securing major cloud contracts with OpenAI, xAI, Meta (META), Nvidia, and AMD (AMD). These agreements contribute to a $130 billion backlog, up 62% from the previous year, underscoring Oracle's growing role in powering large-scale AI model development and deployment. Oracle's edge lies in its focus on high-performance computing and scalable infrastructure. A prime example is its deal with NVIDIA: Oracle is investing $40 billion to acquire 400,000 GB200 superchips, which will be used to build a massive AI-focused data center in Texas, expected to be operational by mid-2026. It's an ambitious move, but one that is positioning Oracle as a key player in the AI infrastructure space. Demand is strong, and with its advanced data center capabilities, Oracle appears to be just getting started. Oracle Expands Product Ecosystem with Strategy Oracle's strategy of forming strategic alliances is laying the foundation for long-term growth. A standout example is its multi-cloud partnership with AWS, which enables customers to access Oracle databases across platforms with ease. The results are already materializing—multi-cloud revenue grew tenfold year-over-year in Q3. This approach allows Oracle to collaborate with competitors while expanding its footprint in the AI space, reinforcing its leadership in hybrid and sovereign cloud environments tailored to enterprise needs. Another major initiative is Stargate, Oracle's ambitious AI infrastructure project with OpenAI and SoftBank. Oracle isn't just supplying compute power—it's helping to build a full ecosystem that supports advanced AI innovation. CEO Safra Catz also noted that bookings are converting to revenue more quickly than expected, with a 57% increase in OCI consumption revenue. These aren't just headline-grabbing deals—they're translating into real, accelerating growth. Cloud Applications Become the Unsung AI Heroes While OCI grabs the spotlight, Oracle's cloud applications, like Fusion Cloud ERP and NetSuite, are quietly powering its AI story. In Q3, cloud application revenue rose 9% to $3.6 billion, with strategic back-office SaaS applications growing 18% to $8.6 billion annually. If you are unfamiliar, these platforms utilize AI to streamline enterprise operations, from financial planning to supply chain management. For example, Fusion Cloud ERP's AI-driven analytics are deployed by companies like Walmart (WMT) to optimize workflows, aiming to boost efficiency and margins. As the chart shows, ORCL's revenues are inching higher while profit margins are sluggish, for the time being at least. What's notable about this is how these applications integrate with Oracle's broader AI ecosystem. As customers using NetSuite can tap into OCI's AI capabilities, a seamless flow of data and insights is created. This synergy drives stickiness. Once a company adopts Oracle's cloud apps, it's hooked on the ecosystem. The 16% growth in ERP revenues indicates that enterprises are betting on Oracle to modernize their operations with AI at its core. The Road to Valuation Upside Through EPS Acceleration Oracle's focus on high-margin areas like OCI and cloud applications is a recipe for margin expansion. The company's adjusted operating margin hit 44% in Q3, and with cloud revenue growing faster than lower-margin segments like software licenses (down 8%), profitability is set to climb. In the interim, consensus estimates project 8% EPS growth for fiscal 2026, accelerating to 12%, 22%, and 31% over the next three years as AI revenues scale. This trajectory shows that the market expects Oracle to convert its $130 billion backlog into high-margin cash flows. Hence, at 28x this year's expected EPS, Oracle's valuation might raise eyebrows, but I think the numbers tell a different story. The projected EPS growth, fueled by AI-driven cloud demand, suggests the stock is reasonably priced with room to run. As Oracle doubles its data center power capacity this year and triples it by fiscal 2026, revenue and earnings are set to accelerate, making today's price a bargain for long-term investors. Is ORCL Stock a Buy, Sell, or Hold? Wall Street appears relatively bullish on Oracle's prospects. ORCL stock has a Moderate Buy consensus rating, with 16 analysts currently bullish and 14 neutral. ORCL's average stock price target of $178.42 indicates a somewhat constrained upside potential of less than 1% over the coming twelve months. Oracle's AI-Powered Future Beckons Oracle's recent performance deserves serious attention from investors. This is no longer just a legacy database company—between the rapid expansion of Oracle Cloud Infrastructure (OCI), strategic partnerships, and AI-enhanced cloud applications, Oracle is positioning itself as a major contender in the AI space. With a $130 billion backlog and accelerating EPS growth projected in the coming years, the fundamentals are strong. At current levels, the stock offers a compelling blend of growth potential and attractive valuation. Bottom line: Oracle's AI journey is still in its early stages, and there could be meaningful upside ahead.

Tarkett- AVAILABILITY OF THE OTHER INFORMATION DOCUMENT RELATING TO THE LEGAL, FINANCIAL, ACCOUNTING AND OTHER CHARACTERISTICS OF TARKETT
Tarkett- AVAILABILITY OF THE OTHER INFORMATION DOCUMENT RELATING TO THE LEGAL, FINANCIAL, ACCOUNTING AND OTHER CHARACTERISTICS OF TARKETT

Yahoo

timean hour ago

  • Yahoo

Tarkett- AVAILABILITY OF THE OTHER INFORMATION DOCUMENT RELATING TO THE LEGAL, FINANCIAL, ACCOUNTING AND OTHER CHARACTERISTICS OF TARKETT

PRESS RELEASE DATED JUNE 10, 2025 PUBLIC BUY-OUT OFFER FOLLOWED BY A SQUEEZE-OUT ON THE SHARES OF TARKETT INITIATED BY TARKETT PARTICIPATION AVAILABILITY OF THE OTHER INFORMATION DOCUMENT RELATING TO THE LEGAL, FINANCIAL, ACCOUNTING AND OTHER CHARACTERISTICS OF TARKETT AMF This press release has been prepared and issued by Tarkett (the 'Company') in accordance with Article 231-28, I of the general regulations of the Autorité des marchés financiers ('AMF'). Upon completion of the public buy-out offer referred to in this press release, the mandatory squeeze-out procedure provided for in Article L. 433-4, II of the French Monetary and Financial Code will be implemented and the Tarkett shares covered by the public buy-out offer that have not been tendered to it will be transferred to Tarkett Participation in exchange for compensation equal to the price of the public buyout offer. Paris, France, on June 10, 2025 – Pursuant to the AMF's compliance decision dated June 5, 2025 regarding its public buy-out offer followed by a squeeze-out on Tarkett shares at a price of €17 per share (the 'Offer'), the Company announced that it had obtained on the same day approval No. 25-200 from the AMF on the response document relating to the Offer. The Company announces that the document containing information on the Company's characteristics, in particular legal, financial and accounting information, was filed with the AMF on June 6, 2025 and made available to the public on June 6, 2025, in accordance with the provisions of Article 231-28 of the AMF's General Regulations. It is reminded that the Offer will be open for a period of 10 trading days. Prior to the opening of the Offer, the AMF and Euronext will publish, respectively, a notice of opening and timetable and a notice announcing the terms and timetable of the Offer. The document containing information on the characteristics, in particular legal, financial, and accounting characteristics, of the Company is available on the Tarkett ( ) and AMF ( websites and may be obtained free of charge on request from : TarkettTour Initiale - 1, Terrasse Bellini92919 Paris La Défense Cedex Disclaimer This press release has been prepared for informational purposes only. It does not constitute an offer to the public. The distribution of this press release, the Offer and its acceptance may be subject to specific regulations or restrictions in certain countries. The Offer is not directed at persons subject to such restrictions, either directly or indirectly, and is not open to acceptance in any country where the Offer would be subject to such restrictions. This press release is not intended for distribution in such countries. Accordingly, persons in possession of this press release are required to inform themselves of any local restrictions that may apply and to comply with them. Tarkett Participation disclaims any liability for any violation of such restrictions by any person. Attachment PR- Availability of the document Other Information - Tarkett - 10.06.2025

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store