UWM Holdings Corp. is pressing its campaign to acquire Two Harbors Investment Corp. (TWO), issuing an open letter to the seller shareholders Thursday evening that details a sweetened proposal that valued the real estate investment trust (REIT) at $12 per share, positioning the bid as superior to the pending sale to CrossCountry Intermediate Holdco.

UWM said it has delivered a revised offer that allows Two Harbors investors to elect either $12 in cash per share or 2.3328 shares of UWM Class A common stock, with no cap or proration on the cash election. 

The new cash option is 70 cents details ⇒

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