Two Harbors Investment Corp. Announces Final Distribution Ratio for Special Dividend of its Shares of Silver Bay Common Stock
NEW YORK--(BUSINESS WIRE)-- Two Harbors Investment Corp . (NYSE: TWO; NYSE MKT: TWO.WS) today announced the final distribution ratio for the special dividend of its shares of common stock in Silver Bay Realty Trust Corp. (SBY) (Silver Bay).
As previously announced on March 18, 2013, the special committee of the companys board of directors declared a special dividend (the Stock Dividend) pursuant to which the company will distribute, on a pro rata basis, 17,824,647 shares of Silver Bay common stock to Two Harbors stockholders of record at the close of business on April 2, 2013.
Two Harbors stockholders will receive approximately 0.049 shares of Silver Bay common stock for each share of Two Harbors common stock they own of record as of April 2, 2013, subject to the liquidation of fractional shares for which stockholders will receive cash in lieu.
The NYSE has established March 28, 2013 as the ex-dividend date for the Stock Dividend. The Stock Dividend is payable on or about April 24, 2013.
Two Harbors Investment Corp.
Two Harbors Investment Corp., a Maryland corporation, is a real estate investment trust that invests in residential mortgage-backed securities, residential mortgage loans and other mortgage-related assets. Two Harbors is headquartered in Minnetonka, Minnesota, and is externally managed and advised by PRCM Advisers LLC, a wholly-owned subsidiary of Pine River Capital Management L.P. Additional information is available at www.twoharborsinvestment.com.
This press release includes forward-looking statements within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations, estimates and projections and, consequently, readers should not rely on these forward-looking statements as predictions of future events. Words such as expect, target, assume, estimate, project, budget, forecast, anticipate, intend, plan, may, will, could, should, believe, predicts, potential, continue, and similar expressions are intended to identify such forward-looking statements.
Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The company does not undertake or accept any obligation to release publicly any updates or revisions to any forward-looking statement to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based. Additional information concerning these and other risk factors is contained in the companys most recent filings with the Securities and Exchange Commission. All subsequent written and oral forward looking statements concerning the company or matters attributable to the company or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above.
Stockholders and warrant holders of Two Harbors, and other interested persons, may find additional information regarding the company at the Securities and Exchange Commissions Internet site at www.sec.gov or by directing requests to: Two Harbors Investment Corp., 601 Carlson Parkway, Suite 1400, Minnetonka, MN 55305, telephone 612-629-2500.
Two Harbors Investment Corp.
July Hugen, 612-629-2514
Source: Two Harbors Investment Corp.Copyright Business Wire 2013