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You‘re really asking if I made things up, because you didnt read two simple 8Ks: One in Aug announcing the buy back from KKR and the other in Sep clarifying the new number of shares after the acquired shares had been cancelled?
https://investors.mrcoopergroup.com/financials/sec-filings/default.aspx
Because I can read
Unless you believe that the buy back from KKR was just invented (which would mean KKR would still hold the shares which COOP has claimed to have bought back)
In which case you should probably let the SEC know
No, nothing in COOPs share structure was ever ‘corrected’.
COOP simly bought back shares from KKR, cancelled these shares and obviously reduced the number of outstanding shares as a result of this transaction.
There was no need to correct anything because it had never been incorrect.
Nothing to do with COOP
Like all the other false predictions which you have made.
And you’re of course among the honest people, despite you not even knowing the local time in the South Pacific where you had claimed to be at the time?
Yesterday’s 8-K did not “correct” anything, it was just a standard announcement that the company has cancelled the shares it bought back from KKR.
Your own post says:
Common shares at end of period
75
And so does the 8-K
Company has cancelled the shares which they bought back from KKR, so number of shares outstanding is now 75m.
If 50 dollars was the threshold to paying out money, then why didn‘t COOP make a bigger resplit in 2018 to bump up the share price above 50?
You haven‘t presented a dissection of anything yet.
You just came up with another unproven theory based on sources, which interestingly you didn’t provide.
So where is the document backing up you “$ 50 and then 6 weeks” claim? Let’s dissect it…
Last year it was meant to happen before year-end and now COOP needs to reach 50 Dollars before money will magically appear.
How can anyone not realise whats going here?
Of course - she lost, paid a fine and had to agree to abandon her SCOTUS law suit - how do you define ‘losing’ If this isn‘t it?
This is an old filing, even AG herself reduced her claims subsequently by more than 98% from 600bn to 10bn+.
And then she lost and got absolutely nothing because she offered zero proof for her claims beyond second degree hearsay.
But her claims will be bandied around for years to come as if they actually mean anything….
In a few weeks COOP will be reporting its next set of quarterly financials.
Of course they won’t disclose anything around off balance sheet assets / debt collateral etc - and then the empasis will move firmly into 2022.
I wasn’t talking about whether the loans were performing…
I just highlighted that JPM did of course assume the assets AND liabilities of WMB
Dood - I’m not the one who is clueless about a bank‘s balance sheet
Assets are (mostly) loans made to customers
Liabilities are (mostly) customer deposits, which are used to finance the loans
If JPM did not assume the liabilities (and only received the assets) who has been paying back WMB depositors for the last 13 years?
All disclosed in JPM financials 2008
Again - if JPM had not assumed the deposits, who has paid back all WMB deposit holders their money for the last 13 years?
If JPM had not assumed the customer deposits, who do you think has actually paid out these WMB liabilities since 2008?
It doesn‘t matter if a new „theory“ is being comprehensively disproven (such as „new Wand“) - it will just get repeated again and again until enough people are convinced that there must be some truth to it.
This has been working for the last few years - and will continue to work well into 2022, 2023 and beyond
Thanks - I‘m actually quite sure that MMs would find better ways to deliver ‘secret messages’ to each other (if they wanted to) than to buy or sell in certain volumes
Ok, I see zero reason why COOP would lie in an 8-K about whether KKR continues to hold shares given that there would be a huge legal risk associated with that.
When you say that KKR did not sell off its entire holding you are again directly contradicting official filings made by the company - for which they would be liable if found to be incorrect.
On August 2, 2021, the Company entered into a stock purchase agreement to purchase 11,073,245 shares of its Common Stock and 1,000,000 shares of its Preferred Stock from affiliates of KKR for total consideration of approximately $396 million or $33.25 per share, on an as converted basis. After giving effect to the transaction, KKR no longer held any equity interests in the Company.
Glad we agree that WMIH = COOP
Straight from the Annual Report 2019 - what is it that you don‘t understand?
Mr. Cooper, which was previously known as WMIH Corp. (“WMIH”), is a corporation duly organized and existing under the laws of the state of Delaware since May 11, 2015. On July 31, 2018, Wand Merger Corporation, a wholly owned subsidiary of WMIH (“Merger Sub”), merged with and into Nationstar Mortgage Holdings Inc. (“Nationstar”), with Nationstar continuing as a wholly owned subsidiary of WMIH (the “Merger”). Prior to the Merger, WMIH had limited operations other than its reinsurance business that operated in runoff mode and focused on identifying and consummating an accretive acquisition transaction across a broad array of industries, with a primary focus on the financial institutions sector. As a result of the Merger, shares of Nationstar common stock were delisted from the New York Stock Exchange. Following the Merger closing, the combined company traded on NASDAQ under the ticker symbol “WMIH” until October 10, 2018, when WMIH changed its name to “Mr. Cooper Group Inc.” and its ticker symbol to “COOP.”
Busted?
COOP is simply the new name of WMIH, therefore WMIH cannot be (and is not) the parent of COOP.
Also clearly visible in this year‘s proxy statement
What‘s the new number?
Yep, sounds right - they bought significantly below BV so should be accretive exactly as they mentioned on the earnings call.
Of course KKR will have considered it for a while - it was well known and clearly communicated by the company that they would buy back further shares post 1/8.
Care to explain why KKR would sell all of their shares if they expected massive value to come from unreported legacy assets?
Yep, KKR sold all their shares.
There simply was no „correction“.
They made an announcement of a share buy back from KKR, completely in line with prior guidance from management.
They did not „correct any share count“, because the share count was never incorrect.
They simply announced a buy back of shares from KKR.
Likewise the theory of massive value suddenly coming to COOP via legacy assets..
Thats not to say that the real COOP is not going to flourish going forward.
Anyone believing in legacy values coming back to COOP should maybe ask themselves why KKR have now sold their entire stake in the company - if these values were really forthcoming?
Yep, lets see what will happen to the Escrows once the LT is dissolved
And again nothing on “WMIH is the parent of COOP”, secret subsidiaries, hidden assets…
But thank god there is always the next 10-Q to look forward to, where all will be revealed…
No one - that’s the interesting bit.
Statute of Limitations has probably long run out anyway - so there wouldn’t even be a law suit.
Most of the last 2 weeks of July is already over, today is 7/28…
She claimed to have a source backing up her claims - but she did not even speak to this source herself
She lost 4 or 5 times - and had to agree not to pursue any further claims
How can you not understand that?