Ditech Holding Corp fka DHCPQ

[BigDog0708]

The RSA presently contemplates the following treatment for certain key classes of creditors under the Reorganization Transaction:
• DIP Warehouse Facility Claims. On the Effective Date, the holders of DIP Warehouse Facility Claims will be paid in full in cash;
• Term Loan Claims. On the Effective Date, the holders of Term Loan Claims will receive their pro rata share of new term loans under an
amended and restated credit facility agreement in the aggregate principal amount of $400 million, and 100% of the Company’s new
common stock, which will be privately held;
• Second Lien Notes Claims. On the Effective Date, the holders of the Company’s 9.00% Second Lien Senior Subordinated PIK Toggle Notes
due 2024 (“Senior Notes”) will not receive any distribution;
• Go-Forward Trade Claims. On the Effective Date, holders of all Go-Forward Trade Claims (i.e., trade creditors identified by the Company
(with the consent of the Requisite Term Lenders (as defined in the RSA)) as being integral to and necessary for the ongoing operations of
New Ditech) will receive a distribution in cash in an amount equaling a certain percentage of their claim, subject to an aggregate cap; and
• Existing Equity Interests. On the Effective Date, holders of the Company’s existing equity will have their claims extinguished.

[TheGuy87]

Very interested in how this plays out

[JC$]

If they manage to avoid debt going forward , this could turn into a very lucrative investment. They made 204.66 Million for the 2018 3rd quarter.

Just my opinion.

[JC$]

Same company with less debt now.

the restructuring of the indebtedness of the Company through a recapitalization transaction that is expected to reduce gross corporate debt by over $800 million and provide the reorganized Company with an appropriately sized working capital facility upon emergence (the “Reorganization Transaction”).

[Stink7]

Filings have hit, I believe it is great news for shareholders

[BigDog0708]

Excited for next week. But have to remind myself that a restructure and/or a reverse merger takes time.

We should see some sort of PR/Filing regarding the Forbearance at a minimum.

GLTA!

[Krspecialized]

The Mamas & the papas said Monday Monday.

[DuctHammer]

I'll take boring for some day soaring :) Some day soon heading to the moon!

[TheGuy87]

Boring day for a boring hold lol

[JC$]

I'm fine with the gradual rise but, any heavy volume will definitely make this move fast.

Nice small float.

[BigDog0708]

Big volume spike any day now...

[JC$]

Someone really likes whacking the bid every time this goes up a few cents.

[BigDog0708]

Let me reiterate. Buying stock when a BK Filing (restructure) is imminent is a very risky transaction.

Here a few things I am hoping for and expecting:

1. Expect short term volatility
2. Expect to see an announcement of debt restructure
3. Hoping the debt restructure is part of "Reverse Merger"
4. Hoping the current PPS has a BK filing "baked in", so subsequent announcements will only boost PPS.

I am willing to hold throughout the BK and Restructure process. See post #333. (If the stock pops to ONE dollar I am OUT!!!)

The book value range is between $9 and $11 and the balance sheet will look much better after exiting the BK.

GLTA!

[BigDog0708]

Yes I do. A restructure means Ditech will shed some debt which is the biggest dark cloud hanging over the company.

See post #333.

[TheGuy87]

Think it will go up in that case then?

[BigDog0708]

That a BK filing is close... Might be only a few days to grab shares.

[Krspecialized]

Perfect storm is brewing.

[TheGuy87]

What does this mean lol

[BigDog0708]

Pursuant to the Forbearance Agreements, subject to certain terms and conditions, the 2L Holders, Credit Agreement Forbearing Parties and Warehouse Lenders have agreed to temporarily forbear from the exercise of any rights or remedies they may have in respect of the aforementioned events of default or other defaults or events of default arising out of or in connection therewith. The Forbearance Agreements terminate on February 8, 2019, unless certain specified circumstances cause an earlier termination.

https://www.otcmarkets.com/filing/html?id=13159063&guid=NM5tUqSowRcfY3h

[Krspecialized]

News has to be coming soon. BANKING on fast growth, once released. Fingers crossed.

[BigDog0708]

A BK liquidation is bad. A BK restructure can be good.

See post #333. If the same scenario plays out like it did in Feb 2018, I stand to make a bucket of money.

[Maple tree]

Filling bankruptcy is good or bad for stock?

[Garyst]

DHCPW warrants up 900% 01 now with 02 on ask

[BigDog0708]

Surprised we did not see a filing after market close yesterday. But its coming. Should give the stock a real nice boost, as they move to restructure debt.

[Krspecialized]

Braxton Hicks. Full on next week.

[Krspecialized]

Afternoon blitz before weekend?

[Krspecialized]

Feeling good about this.

[BigDog0708]

News? But I to Am looking for a spike.

[Krspecialized]

Skyrocketing PPS today?

[JC$]

Lion Point increased there position very recently ... Late last month.

File Date 2018-12-26
Form SC 13D/A
Security WAC / Walter Investment Management Corp.
Prev Shares 1,443,687
Current Shares 5,043,209
Change (Percent) 249.33
Ownership 50.20
Change (Percent) 91.60

Looks like Nomura was the previous top holder .

Nomura Securities International, Inc. 1,094,919 21.1 1,094,919 11/15/18
Nomura Securities Co., Ltd. 470,432 9.1 455,432 12/07/18
Lion Point Capital, L.P. 185,906 3.6 0 12/19/18

[BigDog0708]

Filing could be any day now. February forbearance payment is due. Ditech will have to file for protection. EXPECTED!!

[BigDog0708]

Big time interesting.

If the Reverse Merger means a common stock holder would get ONE for ONE could be super lucrative.

If they somehow work out a Cost Basis, it would be zero sum gain.

[JC$]

Interesting for sure.

5,043,209 shares 50.2 ownership

https://fintel.io/i/lion-point-capital-lp

https://www.otcmarkets.com/filing/html?id=13124883&guid=Pnj8UaBVsNplD3h

[BigDog0708]

A REVERSE MERGER w/ a Private Co. should preserve stock as LION Point has 5MM shares of common stock.

[Krspecialized]

After market trades?

[TheGuy87]

LoL

[BigDog0708]

140k shares traded today. Wow. I grabbed 9k at 0.118. But yes, when I saw PPS pop to 2 dimes, had to chuckle.

[Krspecialized]

PPS on the rise. January 31st & February 9th.

[Stink7]

Any news relevant here yet?

[TheGuy87]

Ask at .22 is that you dog? LoL

[Krspecialized]

And it begins!

[BigDog0708]

Orders are filled. (I raised ASK to 0.118) No sense splitting hairs down here. Looks like I am not the only one.

GLTA! This will be interesting.

[BigDog0708]

My order to buy 2k shares @ 0.08 never got filled. Only partial. Bought a block at .109.

My goal is 10k pre filing.

Remember Ditech has a interest/forbearance payment come due 2.9.19.

[Garyst]

It sure does!

[Maple tree]

Looks cheap now

[Garyst]

You're welcome.

[getmoney12]

Thanks an opinion of another is always good. Much luck to us all

[Garyst]

It can vary. Most instances in any bankruptcy they are wiped out BUT not in all and those that have shares survive tend to make some astonishing gains.

[TheGuy87]

Great post, I agree and will gamble on it

[BigDog0708]

Agreed. The last time Walter/Ditech went thru a BK restructure the board members were replaced. The new board consisted of mainly large note holders and majority stock holders. All parties were given new shares/warrants as part of the structured agreement.

IMO it will be necessary to restructure the existing debt and they will most likely need to recapitalize by swapping shares w/ debt.

Since all the board members have skin in the game, they will be able to approve or disapprove how all this plays out.

In addition, Lion Point now owes 5 million plus shares, all this leads me to believe they will not wipe out existing shares but do an exchange.

As I mentioned the last time they exited BK, all existing share holders were given 1 new share for every 7. (In effect, a reverse split)

New issue price was $12.00 give or take a few pennies.

Pre BK (5000 shares @ $1 = $5000) Post BK (1 for 7 = 714.29 shares. 714.29 x $12 = $8571.43) Profit = $3571.43

If this same scenario plays out, shares purchased under ONE dollar, stands to be very lucrative. I am certainly willing to risk a few hundred bucks and buy 10 cent shares. GLTA!!