Two Harbors, Royal Gold Offer Stock
January 10 2012 - 05:42PM
Dow Jones News
A real-estate investment trust and a precious metals royalty
company unveiled new stock sale plans, sending their shares
lower.
Two Harbors Investment Corp. (TWO) plans to offer 25 million
shares of common stock to acquire more assets. Its shares were down
3.2% at $9.20 after-hours. The REIT, which invests in residential
mortgage-backed securities and other real-estate related assets,
has repeatedly tapped equity markets in recent years, seeking funds
to bulk up its portfolio. As of Nov. 4, the company had roughly
140.6 million shares outstanding.
Royal Gold Inc. (RGLD, RGL.T) agreed to sell 4 million shares to
Goldman Sachs Group Inc. (GS) in an underwritten at-the-market
public offering. Shares were down 3.3% at $68.56 after hours. The
company plans to use proceeds to acquire additional royalty or
similar interests, to repay debt and other purposes. As of Oct. 27,
Royal Gold had about 54.8 million shares outstanding.
-By Tess Stynes, Dow Jones Newswires; 212-416-2481;
Tess.Stynes@dowjones.com
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