This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Stock Offerings: Two Harbors

NEW YORK ( TheStreet) -- Two Harbors Investment (TWO - Get Report) surged in early trading Friday after the company cancelled a proposed stock offering, allaying fears of shareholder dilution.

Two Harbors Investment cancelled its proposed public offering of 14 million shares of common stock, having determined that the available share price "would result in an unacceptable dilution of book value to existing shareholders." Two Harbors initially filed the registration for the offering on March 18. Shares were surging on the news, up 53 cents, or 6.1%, to $9.28.

Curiously, Two Harbors shares traded below $9 per share for nearly all of Thursday's session before spiking in the last minutes of trading, finishing the day up 4.5% at $9.25.

Several companies that announced secondary offerings were jumping after announcing the offering price. STR Holdings (STRI - Get Report) priced its offering of 7 million shares at $18.75. The offering, which is being done on behalf of certain stockholders, was announced Monday. STR Holdings will not receive any proceeds from the offering. Underwriters were granted the option to purchase up to an additional 1.05 million shares.

After falling as low as $18.50 on Monday, STR Holdings shares have bounced back and were lately up 7.5% to $20.48.

CF Industries (CF - Get Report) also gained ground after the fertilizer company said it will offer 11.23 million shares of common stock priced at $89 per share. Proceeds from the offering will be used to a $1.75 billion senior secured bridge facility used to fund the acquisition of Terra Industries, which closed Thursday. Underwriters were granted the option to purchase up to an additional 1.7 million shares to cover overallotments. CF Industries was up 2% to $91.77.

Alphatec Holdings (ATEC - Get Report) was also trading higher after the medical technology company said it will offer 16 million shares of common stock priced at $5 per share for net proceeds of $36.8 million. Half of the shares being offered are being sold by a selling shareholder. Underwriters were granted the option to purchase up to an additional 2.4 million shares to cover overallotments. After retreating at the open, Alphatec shares were lately rising 3% to $5.77.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
NPSP $45.97 0.02%
ATEC $1.40 0.00%
AEZS $0.54 0.00%
CF $294.25 0.00%
HNSN $0.80 0.00%


DOW 17,678.23 -40.31 -0.23%
S&P 500 2,056.15 -4.90 -0.24%
NASDAQ 4,863.3620 -13.1570 -0.27%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs