Two Harbors enters into settlement resolving claims in PRCM litigation

Two Harbors (TWO) provided a business update regarding the resolution of pending litigation and its third quarter 2025 common and preferred stock dividends. The company has entered into a settlement agreement, dated as of August 20, 2025, resolving all claims in its litigation with PRCM Advisers LLC, Pine River Capital Management L.P., and Pine River Domestic Management L.P. Pursuant to the settlement agreement, the company has agreed to make a one-time cash payment of $375M to Pine River, which is payable within thirty days of the date of the settlement agreement. The company expects to fund the settlement payment through a combination of cash on hand and available borrowing capacity, and will continue to have ample liquidity following the payment. Pine River will relinquish all ownership claims to intellectual property used by the company.