secwatch.observer — SEC 8-K summary
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Issuer:     TWO HARBORS INVESTMENT CORP. (TWO)
CIK:        0001465740
Form:       8-K
Filed at:   2022-11-08T23:59:59+00:00
Accession:  0001465740-22-000075
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Two Harbors Q3 comprehensive loss $287.8M; book value falls 16.2% to $16.42
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- Comprehensive loss of $287.8M ($3.35 per share); book value declined 16.2% to $16.42 per share.
- Earnings available for distribution (EAD) of $55.2M ($0.64 per share) vs $0.68 dividend declared.
- GAAP debt-to-equity rose to 5.5x from 3.8x; economic debt-to-equity to 7.5x from 6.4x.
- Sold ~$20B UPB of MSR during quarter; post-quarter repurchased ~2.9M preferred shares adding $0.26 to BV.
- Effective Nov 1, 2022, completed 1-for-4 reverse stock split; convertible note conversion rate adjusted to 33.8752 shares per $1,000 principal.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1465740/000146574022000075/0001465740-22-000075-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1465740/000146574022000075/two-20221108.htm
  HTML page:      https://secwatch.observer/filing/0001465740-22-000075

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer