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Investors

How were fractional shares of Two Harbors common stock treated in the Reverse Stock Split?

Q:

How were fractional shares of Two Harbors common stock treated in the Reverse Stock Split?

A:

No fractional shares were issued in connection with the Reverse Stock Split. Instead, if the Reverse Stock Split conversion resulted in a new share total that included a fractional share, the stockholder of the fractional share was entitled to receive, in lieu of such fractional share, a cash payment in an amount that is equal to the volume weighted average price of Two Harbors common stock reported on the NYSE on November 1, 2017.