WASHINGTON, June 29 /PRNewswire-FirstCall/ -- Capitol Acquisition Corp. ('Capitol') (NYSE Amex: CLA; CLA.U; CLA.WS) announced today that Thomas Siering, a Partner of Pine River Capital Management L.P. ('Pine River') and the President and a Director of Two Harbors Investment Corp. ('Two Harbors'), has entered into a written plan to purchase up to an aggregate of 100,000 shares of common stock of Capitol pursuant to Rules 10b5-1 and 10b-18 of the Securities Exchange Act of 1934. As previously announced, Capitol and Two Harbors, a company wholly-owned by Pine River, have entered into a merger agreement pursuant to which Capitol will become a wholly-owned subsidiary of Two Harbors following approval of the merger by Capitol's stockholders.
Capitol Acquisition Corp.
Capitol Acquisition Corp. is a Washington D.C. specified purpose acquisition company formed for the purpose of acquiring through a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more operating businesses or assets. Its efforts in identifying a prospective target business are not limited to a particular industry. Founded by Mark D. Ein, Capitol has an experienced team of Directors and Advisors with complementary backgrounds and a history of success as investors, entrepreneurs, executives and advisors. Capitol priced its initial public offering ('IPO') of 26,249,000 units on November 8, 2007, including the underwriters' over-allotment option, generating $258.9 million in net proceeds. As of March 31, 2009, Capitol held approximately $259.1 million in a trust account maintained by an independent trustee, which will be released upon the consummation of the business combination. Additional information is available at www.capitolacquisition.com.
Two Harbors Investment Corp.
Two Harbors is a newly-formed Maryland corporation focused on investing in, financing and managing residential mortgage-backed securities. Two Harbors was formed solely to complete the business combination with Capitol and has no material assets or liabilities. Two Harbors will be externally managed and advised by PRCM Advisers, a wholly-owned subsidiary of Pine River.
Pine River Capital Management L.P.
Pine River is a leading independent global alternative asset management firm, registered as an investment adviser under the Investment Advisers Act of 1940.
