---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-121835"
form_type: "8-K"
ticker: "TWO"
cik: "0001465740"
company_name: "TWO HARBORS INVESTMENT CORP."
filed_at: "2025-12-17T23:59:59+00:00"
generated_at: "2026-05-16T12:54:27.256453+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.95
calibrated_materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

# UWM to acquire Two Harbors in all-stock deal valued at $1.3B

## Summary
- Two Harbors stockholders get 2.3328 UWMC shares per TWO share, a 21% premium over 30-day VWAP.
- Transaction expected to close in Q2 2026, subject to TWO stockholder and regulatory approvals.
- Combined MSR portfolio ~$400B; annual cost and revenue synergies targeted at ~$150M.
- UWM shareholders to own ~87% and TWO shareholders ~13% of combined company on fully diluted basis.
- Boards of both companies unanimously approved; TWO will designate one director to expanded 11-member board.

## SEC filing metadata
- accession: 0001104659-25-121835
- form_type: 8-K
- ticker: TWO
- cik: 0001465740
- company_name: TWO HARBORS INVESTMENT CORP.
- filed_at: 2025-12-17T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.95
- calibrated_materiality_score: 0.95
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1465740/000110465925121835/0001104659-25-121835-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1465740/000110465925121835/tm2533517d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-121835
- JSON: https://secwatch.observer/filing/0001104659-25-121835.json
- Plain text: https://secwatch.observer/filing/0001104659-25-121835.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.