mREIT Two Harbors to Acquire CYS – Update

We have added further info on the assumption by TWO of CYS preferreds.

Here is a Reuters release.

SEC Filing Announcement

mREIT Two Harbors (NYSE:TWO) is going to acquire agency mREIT CYS Investment (NYSE:CYS).

TWO has 3 issues of fixed-to-floating rate preferreds outstanding and CYS has 2 fixed rate preferreds outstanding.  Both CYS preferreds are trading below $25 at this time by a fair amount.

Both CYS preferreds will be “assumed” by TWO.

A press release can be found here.

8 thoughts on “mREIT Two Harbors to Acquire CYS – Update”

  2. Hi Tim thanks for that note on CYS I own a small amount of CYS-PB and thoughts on what to expect on this postion ..a nice pop this morning and will it change in any way ? name or any other thoughts would be appreciated
    Thanks G..

    1. Hi G–they plan to keep the shares outstanding–but this could change of course.

  3. HelloTim
    I own Cys-A. What does it mean that the Cys prfds will be “assumed” by TWO?
    What happens to them and us?
    Many thanks!
    Env

    1. Hi Jeff–they indicate that they will simply remain outstanding with a ticker change. i.e. they don’t plan to call them.

  4. HelloTim
    I own Cys-A. What does it mean that the Cys pfrds will be “assumed” by TWO?
    W#hat happens to them and us?
    Many thanks!
    Env

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