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Hey tanjazielman, you stated on 03/21/17 that...
WMI retained interest of WMB pledged loans. As per Hochberg's report.
JPM's third-party mortgage servicing is what grew 91% to $1.17 trillion of loans, not the WaMu portfolio.
"However, there is one area that has
shown an improving trend: third-party mortgage
servicing. This business relies on scale and efficiency
and, including the addition of the WaMu portfolio,
it grew 91% to $1.17 trillion of loans."
WaMu portfolio, it grew 91% to $1.17 TRILLION of loans
However, there is one area that has
shown an improving trend: third-party mortgage
servicing. This business relies on scale and efficiency
and, including the addition of the WaMu portfolio,
it grew 91% to $1.17 trillion of loans."
I posted the ABS cert they control ARE NOT OFF BALANCE.
YOU forgot to mention the ABS cert. that A & M holds.
Are you going to grace this board with another one of your hilarious "soon" predictions?
Great find and it is a clear and subtle way of pointing out the timing they believe of a deal completion. So in my view the deal should be done between 6/30 and 9/30. These clowns have known all along about all the things affecting us like Probate IMHO
ADDED - Pg. 9-10
SECTION 6. Mandatory Redemption. (a) Except as described in Section 6(b), the Corporation shall be required to redeem all outstanding shares of the Series B Preferred Stock
(including unconverted shares of the Series B Preferred Stock remaining after any Mandatory Conversion, including Unconverted Shares), if any, unless such shares of the Series B Preferred Stock have been previously repurchased at the option of the Holder pursuant to a Put Event or mandatorily converted (including in a Partial Conversion), on the third anniversary of the Issue Date (the “Mandatory Redemption Date”), out of funds lawfully available for payment, at a price equal to $1,000 per share of the Series B Preferred Stock, plus an amount equal to accrued and unpaid dividends, if any, whether or not declared (the “Mandatory Redemption Price”).
(b) If, prior to the Mandatory Redemption Date, the Corporation has publicly announced that it has entered into a definitive agreement for an Acquisition, the Mandatory Redemption Date shall be extended to the earlier to occur of:
(i) July 5, 2018; and
(ii) the day immediately following (x) the date such definitive agreement is terminated or (y) the date such Acquisition is closed.
https://www.sec.gov/Archives/edgar/data/933136/000119312515001790/d845621dex31.htm
From the WMIH Conference Call and Webcast March 21,2017
==================================================================
29:20
Leon “Lee” Cooperman – Omega Advisor
Q: What is the drop dead date where the Preferred could have the right to get back it’s money if no transaction is effectuated?
A: The redemption date for the Preferred is January 5th of 2018, and it does have a provision that if we have actually executed an acquisition agreement there’s a 6 month extension provision in that.
==================================================================
Yes,the redemption of the Preferred can be extended for another 6 months beyond Jan 5 2018 but, only if, prior to the Redemption Date, an Acquisition agreement has been announced.
From the WMIH Conference Call and Webcast March 21,2017
==================================================================
29:20
Leon “Lee” Cooperman – Omega Advisor
Q: What is the drop dead date where the Preferred could have the right to get back it’s money if no transaction is effectuated?
A: The redemption date for the Preferred is January 5th of 2018, and it does have a provision that if we have actually executed an acquisition agreement there’s a 6 month extension provision in that.
==================================================================
Yes,the redemption of the Preferred can be extended for another 6 months beyond Jan 5 2018 but, only if, prior to the Redemption Date, an Acquisition agreement has been announced.
Not true.
Leon cooperman asked for the redemption of preferreds in the last shm and was answered by the ceo stating that they can extend it for another 6 months beyond Jan 2018.
About Restricted Stock Awards
A Restricted Stock Award Share is a grant of company stock in which the recipient’s rights in the stock are restricted until the shares vest (or lapse in restrictions). The restricted period is called a vesting period. Once the vesting requirements are met, an employee owns the shares outright and may treat them as she would any other share of stock in her account.
How do Restricted Stock Award Plans work?
Once an employee is granted a Restricted Stock Award, the employee must decide whether to accept or decline the grant. If the employee accepts the grant, he may be required to pay the employer a purchase price for the grant.
After accepting a grant and providing payment (if applicable) the employee must wait until the grant vests. Vesting periods for Restricted Stock Awards may be time-based (a stated period from the grant date), or performance-based (often tied to achievement of corporate goals.)
When a Restricted Stock Award vests, the employee receives the shares of company stock or the cash equivalent (depending on the company’s plan rules) without restriction.
http://personal.fidelity.com/products/stockoptions/rstockawards.shtml
Hmm. I was under the impression that they were awarded as 'Stock Awards' at the price of $1.20 but still he needs to Pay for them to ACQUIRE them. I thought they work the same way as Stock Options where the awardee needs to acquire them at the specified Strike price. Please correct me if I am wrong...
$15 stock? I say it'll be a $30 stock and will happen next week, imo. BOOM!!
Won't be long before wmih will be a $15 stock !!! Boom overnight Boom!
Using Michael Willingham as an example:
In March 2012, his original 1,000,000 WAMUQ shares converted into 34,503 WMIH shares.
In Oct. 2012, MW received 165,154 restricted stock awards with an exercise price of $0.
In Aug. 2013, MW received 98,039 restricted stock awards with an exercise price of $0.
In Feb. 2014, MW received 50,000 restricted stock awards with an exercise price of $2.53
In June 2014, MW received 35,842 restricted stock awards with an exercise price of $ 2.79
In April 2015, MW received 38,462 restricted stock awards with an exercise price of $ 2.60
In June 2016, MW received 42,553 restricted stock awards with an exercise price of $ 2.35
In June 2017, MW received 83,333 restricted stock awards with an exercise price of $ 1.20
They get shares every year don't they? At whatever the price is, they all have free shares at higher prices too don't they? I believe they do
Is it because they know that there's "151 (billion) OFF BALANCE CASH & ASSETS AT FDIC-R not being carried same way received==OFF BALANCE, which does not have to be REPORTED!!"?
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=128849228
Expect what you want, but I do not think WMIH would pay A & M 2 million a year for a few million.
Also do not think the 147 Hedge Funds would be in for just millions.
Yeah, that must be it. I'm sure it has nothing to do with the part in the article that i bolded.
/sarcasm
"In exchange, JP Morgan, the largest U.S. bank by assets said it will drop its more than $1 billion in claims related to the Washington Mutual (WaMu) purchase. "
JPMorgan Chase & Co (JPM.N) on Friday said it will receive $645 million in a settlement of litigation with the Federal Deposit Insurance Corp and Deutsche Bank AG (DBKGn.DE) arising from its purchase of Washington Mutual Inc's banking operations during the financial crisis in 2008.
According to a regulatory filing, JPMorgan will collect the cash payment from the estate of Washington Mutual Bank, for which the FDIC acts as receiver.
In exchange, JP Morgan, the largest U.S. bank by assets said it will drop its more than $1 billion in claims related to the Washington Mutual (WaMu) purchase.
JPMorgan also said Deutsche Bank, the trustee overseeing 99 trusts holding residential mortgage securities backed by soured WaMu home loans, will have a claim against the estate.
JPMorgan had filed lawsuits seeking to force the FDIC to indemnify it on claims relating to the WaMu purchase, in which it also assumed some of the thrift's liabilities.
Deutsche Bank had filed a $10 billion lawsuit against the FDIC and JPMorgan over losses stemming from alleged defects in WaMu's mortgage underwriting.
JPMorgan said the settlement requires court approval, and would end four WaMu-related lawsuits involving the bank and the FDIC, and pending in the federal court in Washington, D.C.
The bank and the FDIC have long fought over who is liable to investors for claims arising from Seattle-based WaMu's collapse.
WaMu had been nation's largest savings and loan before the FDIC seized it on Sept. 25, 2008 and sold its banking operations to New York-based JPMorgan for about $1.9 billion. The parent holding company of WaMu filed for bankruptcy protection.
http://www.reuters.com/article/us-jpmorgan-settlement-washing-mut-bk-idUSKCN10U28M
Please remind me, why is JPM entitled to $647 million?
You mean this guy? He's being sarcastic.
Bri
45 minutes ago
Guys don't pay attention or look at your account. Funds are buying. Pretend the drop from 3 to 1 never happened. Even though price dropped big funds buying. Prices sometimes go down when big funds buy. Manipulation I guess
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Bri
43 minutes ago
Besides only a few of us own the stock that message on this board
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Bri
2 days ago
First Monday in awhile wmih wasn't down. Moral victory
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Bri
5 days ago
Funds are buying guys. No big deal here
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Bri
5 days ago
Here's a question. If funds are buying. Who is selling
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Bri
5 days ago
But but funds are buying. Lol. Can't make this up
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Bri
15 days ago
Good work if yA cAn get it.
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Bri
12 days ago
Market all time highs. Wmih relative strength not so good
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Bri
12 days ago
Funds are loving this dip
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Bri
14 days ago
Funds are buying. Hence stock near 52 wk lows. Lol. Can't make this up
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Bri
15 days ago
What a dog. This dog has fleas
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27 days ago
Buying
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Bri
27 days ago
Are
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Bri
27 days ago
Funds
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Bri
27 days ago
Lol. Can't make this up
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Bri
27 days ago
Nassssty
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Bri
29 days ago
Funds are buying. Lmao
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Bri
2 months ago
It's acted as resistance. It is what it is.
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Bri
2 months ago
1.50 wall of steel
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Bri
Bri
2 months ago
Resistance 1.35/40. She will run if cleared.
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Bri
2 months ago
Boys are back in town
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Bri
Bri
2 months ago
Funds buying. Believe them, not price action
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2 months ago
I'm not worried
Because folks that are smarter than me on here are saying funds are buying. They been buying from 2.50 to 1.00. In just a dumb chart guy
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2 months ago
Funds buying. Zeke says so. So there
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2 months ago
I own some but not sure why it matters. I'm not realtime on 1 hub or whatever that is. As far as the cc. Listened to it. Seems like all sides are eager for a deal. Seems like the management team is taking its time to find the right deal and not overpay. I think the market at all time highs isn't helping.
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Bri
2 months ago
Zeke will have a positive for us about conference call. Funds buying ? That made me feel better from 2.50 all the way to my target of a dolla
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2 months ago
I see cooperman was part of the preferred offering. So that answers why he asked the question he did. Hes underwater.
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2 months ago
Close above 1.30 would be a great start
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2 months ago
And to think everyone thought today was the day a big deal was announced. Lol. Whoopsie
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2 months ago
Yikes
(I looked at WMILT for news releases but could not fine the one I believe I saw a year or so ago)
From Ilene Slatko's report Shareholder Meeting June 1, 2016.
"At the last minute, an older shareholder jumped back up and grilled them on the 11.1M, and how many deals could they do at that rate until they ran out of money...it was then that Gene jumped up and answered rather rudely and said basically, “if we don’t have a deal next year you can fire us”."
Didn't William Gallagher say he would quit if he didn't accomplish anything by this shareholder meeting. Just trying to vote my Proxy Form
How so?
This is very important to our settlement date TBA before June 1, IMO
https://www.bloomberg.com/news/articles/2017-05-29/rbs-investors-back-settlement-that-may-avert-goodwin-court-clash
Owner name
JPMORGAN CHASE & CO
Date
03/31/2017
Shares held
134,131
Change (Shares)
(223,425)
Change (%)
(62.49)
Value (in 1,000s)
161
http://www.nasdaq.com/symbol/wmih/institutional-holdings?page=4
Where is a credible link showing that JPM bought shares of WMIH?
Correction...the link you provided has a date of October 5, 2016 while the link i provided has a date of January 1, 2016. Nonetheless, the end result is the same. Tepper sold more than half of his shares.
LuckyPanda, you stated…
Quote:Here's the "redistribution" of Appaloosa WMIH holdings.
Appaloosa LP 7.6 million shares
Appaloosa Investment Limited Partnership I 3.8 million shares
Palomino Master Ltd. 3.8 million shares
Appaloosa Management L.P. 3.8 million shares
Appaloosa Partners Inc. 3.8 million shares
David A. Tepper 7.6 million shares
Here's the link to the Form 13G showing the new holdings signed by Tepper.
https://www.streetinsider.com/SEC+Filings/Form+SC+13GA+WMIH+CORP.+Filed+by%3A+Appaloosa+LP/12131594.html
As you can see, he never sold the shares. He just redistributed between the various holdings for what I'm assuming is to take advantage of his new Florida residence. It looks like some of the funds may be for the benefit of Appaloosa "management" and some for "partners".
I hope this helps. If you have any research into these other funds, please add to the thread.
The link you provided to the Form 13G has a date of October 13, 2016. Within this filing it states..
“Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following: [x].”
Item 5 shows an ownership of 5 percent or less indicated by the “x” in the box.
-
-
-
Now, here’s a link to a previous Form 13G showing the holdings signed by Tepper from February 12, 2016.
https://www.streetinsider.com/SEC+Filings/Form+SC+13G+WMIH+CORP.+Filed+by%3A+Appaloosa+LP/11316759.html
Appaloosa LP 16,902,465 million shares
Appaloosa Investment Limited Partnership I 7,327,124
Palomino Master Ltd. 9,575,341
Appaloosa Management L.P. 7,327,124
Appaloosa Partners Inc. 7,327,124
David A. Tepper 16,902,465
Item 5 is not marked with an “x”, clearly showing an ownership of more than 5 percent.
"Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following: [ ]."
-
-
-
Also, the funds show to own more shares in this Form 13G than the Form 13G of October 13, 2016.
Clearly, the shares were not just “redistributed between the various holdings”, Tepper sold more than half. The Form 13G from February 12, 2016 vs the Form 13G from October 13, 2016 proves this.
LuckyPanda, you stated…
Here's the "redistribution" of Appaloosa WMIH holdings.
Appaloosa LP 7.6 million shares
Appaloosa Investment Limited Partnership I 3.8 million shares
Palomino Master Ltd. 3.8 million shares
Appaloosa Management L.P. 3.8 million shares
Appaloosa Partners Inc. 3.8 million shares
David A. Tepper 7.6 million shares
Here's the link to the Form 13G showing the new holdings signed by Tepper.
https://www.streetinsider.com/SEC+Filings/Form+SC+13GA+WMIH+CORP.+Filed+by%3A+Appaloosa+LP/12131594.html
As you can see, he never sold the shares. He just redistributed between the various holdings for what I'm assuming is to take advantage of his new Florida residence. It looks like some of the funds may be for the benefit of Appaloosa "management" and some for "partners".
I hope this helps. If you have any research into these other funds, please add to the thread.
Reiko, that's the beauty of it. It doesn't matter what the current 200 million shares of WMIH is valued at. or does it matter what the $6 billion NOLs are worth. It is a deceiving to think that 3.5 billion shares exchange will need to happen at the current price of the 200 million shares WMIH..say $1.25.
That's the whole beauty of the 3.5 billion shares dilution. Let me explain.
Let's say when safe harbor releases, the remaining WAMU portfolio is worth $35 billion (the illiquid portion). 1 of 2 scenarios could happen. In the first scenario, a third party, like JPM can offer to buy it from WMILT with $35 billion cash or JPM stock. Even if that transaction is valued properly, escrow holder can still sue JPM, WMILT, or FDIC for "undervalued" sale -- because that valuation wasn't "voted" on by the open market. However, in second scenario, what if the portfolio was exchanged for value with a shell company like WMIH say with a valuation of zero. Well, if you make the exchange such that escrow holders only receive 50% of the merged company (say 200 million shares exchange), then escrow might still be able to sue WMILT/WMIH for undervalued exchange. However, if the exchange is for 95% of the merged company (say 3.5 billion shares exchange) then escrow holders will have very little ground to sue on because the new share base will be publicly priced by the market for whatever it thinks that "$35 billion portfolio" is worth and the escrow markers will be guaranteed at least 95% of that valuation (because they now have 95% of 3.7 billion shares outstanding).
So as you can see, it doesn't matter what the current 200 million WMIH is worth, nor does it matter what the future value of $6 billion NOLs is worth under upcoming Trump tax plan. As far as I'm concerned, current 200 million shares can be worth zero. However, when it dilutes itself with 3.5 billion new shares, assuming the exchange is for a multi-billion loan portfolio (say $35 billion, the new valuation of the total 3.7 billion shares will be determined by the market valuation of said loan portfolio.
Essentially, the current 200 million WMIH shareholders will be free-riding on the valuation of the new 3.5 billion shares issued -- which would be valued against the large loan portfolio that its merging with.
No, the "Appoloosa" fund sold half their shares...but the shares were just sold to 4 other funds that Tepper controlled -- one of them being his personal fund. Don't ask me for a link, I did some accounting when this news broke and I traced it to the positions gained in 4 other funds that Tepper controlled.
Would you happen to remember the names of the other 4 funds?
No, the "Appoloosa" fund sold half their shares...but the shares were just sold to 4 other funds that Tepper controlled -- one of them being his personal fund. Don't ask me for a link, I did some accounting when this news broke and I traced it to the positions gained in 4 other funds that Tepper controlled.
Are you saying this article is incorrect, then?
The day Tepper’s stake was disclosed, WMIH was priced at $1.88. On Oct. 5, when he sold 8,788,287 shares, WMIH was priced at $2.14, down 17.4% year to date. The sell shrunk his holding by 53.63%, leaving him with 7.6 million shares, or 3.7% of the company.
https://www.forbes.com/sites/gurufocus/2016/10/17/david-tepper-pulls-half-of-backing-of-shell-company-formed-from-washington-mutual-bankruptcy/#6946c19c6ccd
Btw, Appoloosa never sold their WMIH shares. If you pay close attention to the 13F filings, they basically redistributed their shares among 5 different funds. One of the 5 is Tepper's personal fund. I think it was done for state income tax reasons.
Really, is that how it works? Why issue 3.5 billion shares? Why not issue 1.75 billion, then the stock would be $20. How about WMIH issue 500 million shares, then the stock would be $70. Do you see the point i'm trying to make? It doesn't work the way you think it works.
WMIH is trading around $1.30, right now. In order for WMIH to aquire a $35 billion portfolio by issuing 3.5 billion shares the share price of WMIH would have to already be at $10.
Lets say the illiquid portfolio coming back from safe harbor is worth $35 billion. Lets say WMIH issues 3.5 billion shares to escrow holders in exchange for the $35 billion portfolio. I ask you. What do you think the "diluted" stocks are going to be worth.
The answer is they will be worth around $10. Since the dilutive shares are 3.5 billion and the original shares are only 200 million, the total valuation is essentially going to be worth whatever the portfolio is valued at... in this case it will be $35 billion / 3.7 billion total shares... approximately $10. This is on the conservative side of valuation.
It looks as though the numerous Blackrock entities have consolidated their shares into just one.?
s of 12/31/2016
Blackrock Advisors LLC 105,764 shares
Blackrock Fund Advisors 6,756,904 shares
Blackrock Group LTD 79,902 shares
Blackrock Inc. 20,458 shares
Blackrock Institutional Trust Comp. 2,011220 shares
Blackrock Investment Management 796,475 shares
Total: 9,770,723 shares
As of 3/31/2017
Blackrock Inc. 9,716,739 shares
No longer listed which previously held are:
Blackrock Advisors LLC
Blackrock Fund Advisors
Blackrock Group LTD
Blackrock Institutional Trust Comp.
Blackrock Investment Management
As of 12/31/2016
Blackrock Advisors LLC 105,764 shares
Blackrock Fund Advisors 6,756,904 shares
Blackrock Group LTD 79,902 shares
Blackrock Inc. 20,458 shares
Blackrock Institutional Trust Comp. 2,011220 shares
Blackrock Investment Management 796,475 shares
Total: 9,770,723 shares
As of 3/31/2017
Blackrock Inc. 9,716,739 shares
No longer listed which previously held are:
Blackrock Advisors LLC
Blackrock Fund Advisors
Blackrock Group LTD
Blackrock Institutional Trust Comp.
Blackrock Investment Management
Blackrock increased its position by 9.7 million sharea.
https://whalewisdom.com/stock/wmih
be sure to update the quarter o 3/31 and refresh.
Not correct. 18 million annually at a rate of 3%, $4.5 million quarterly.
Pg. 6
"SECTION 3. Regular Dividends . (a) Holders of shares of outstanding Series B Preferred Stock shall be entitled to receive, when, as and if declared by the Board of Directors, out of funds of the Corporation lawfully available for payment, cumulative regular dividends at an annual rate of 3.00% of the Liquidation Preference per share of Series B Preferred Stock, payable quarterly on each Regular Dividend Payment Date, in cash (subject to Section 5(c) below) (the “Regular Dividends”). "
https://www.sec.gov/Archives/edgar/data/933136/000119312515001790/d845621dex31.htm
we pay about $20M each quater to KKR for the 600M preferred B series and they might have to return that money because they have been so incompetent as to not acquire anything. We just been paying royalties what a joke!!
Washington Mutual Inc. ("WMI"), the holding company filed for Chapter 11 bankruptcy, not Washington Mutual Bank.
"The next day, Washington Mutual Inc. ("WMI"), the holding company for WAMU, filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the District of Delaware (assigned to Judge Mary F. Walrath)."
https://www.fdic.gov/bank/individual/failed/wamu_settlement.html
=================================================================
Also, regarding the $4 billion..
03/27/2010 6:18 pm
"Washington Mutual Inc. filed a Chapter 11 reorganization plan, two weeks after resolving a $4 billion dispute with JPMorgan Chase & Co. and the Federal Deposit Insurance Corp.
The FDIC seized Washington Mutual’s flagship bank in 2008 and sold its assets to JPMorgan for $1.9 billion. The sale resulted in the two banking companies and the government agency trading lawsuits over roughly $4 billion in disputed deposit accounts following the largest bank failure in U.S. history.
The bank holding company filed its 521-page plan late Friday in U.S. Bankruptcy Court in Delaware.
The plan, which still has to be approved by a judge, would set up a $7 billion trust fund for paying creditors, including the $4 billion in deposit accounts that JPMorgan had claimed for itself."
http://www.rolandsmartin.com/blog/index.php/2010/03/27/washington-mutual-files-for-chapter-11/
ReikoBlack, I am sure you are knowledgeable but I think the distinction here was WMB filed for Bankruptcy and not WMI. So the $4B would have stayed with WMI, protected by Safe Harbor but for the fact that they were 'illegally' stolen.. Why would they be given to Creditors from WMI... Only monies from WMB would have gone to the creditors... And if WMB didn't have enough to satisfy Creditors fully, then that is their funeral.
What makes you think i don't understand? My point was this $4 billion didn't just go "poof", it went somewhere...it went to partially pay off the Creditors.
The Creditors were owed roughly about $7 billion.
Let me ask you a question...let's say that it was shown that the $4 billion belonged to the Holding Company (WMI), who do you think this money would have eventually gone too?
Would it have gone to...
a) the Creditors (which it did)
or
b) Equity
The 4B was not theirs to take! It belonged to the holding company. Period! Why dont you understand this?
No, it didn't. The $4 billion eventually went to pay off the creditors.
The $4B deposit by the holding company into WAMU went poof.
I'm still waiting for an answer from tanjazielman to this.
tanjazielman
" Wrong assumption. WMI retained interest of WMB pledged loans. As per Hochberg's report."
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=129739332
ReikoBlack
"Which page number is this on?
http://online.wsj.com/public/resources/documents/WM-Examiner-Report-pt1.pdf "
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=129740972
link?
There is more than $86B, that was 2012.
My post should have been self explanatory as to why KFN is filing a Form 25. They're redeeming the 7.500% Senior Notes and not as you might imply,
...another reason may be that a company has been taken over by another company and all of its outstanding securities have been exchanged for cash or another security.
" KKR Financial Holdings LLC (“KFN”) is a subsidiary of KKR. Prior to being acquired by KKR on April 30, 2014, KFN common shares were publicly listed on the New York Stock Exchange.
KFN’s other securities remain outstanding, namely its 7.375% Series A LLC Preferred Shares (NYSE:KFN.PR), 7.500% Senior Notes due 2042 (NYSE:KFI), and junior subordinated notes. On April 7, 2017, KFN announced that it will redeem all of its outstanding 7.500% Senior Notes due 2042 on April 24, 2017 in accordance with the optional redemption provisions provided in the documents governing the notes. For additional information regarding the redemption, please see the Company’s press release, dated April 7, 2017, in the Press Releases section of this website."
http://ir.kkr.com/kfn_ir/kfn_overview.cfm
BREAKING DOWN 'SEC Form 25'
Securities may be delisted from an exchange for various reasons. Bonds may have matured or been called and redeemed by a company.
http://ir.kkr.com/kfn_ir/secfiling.cfm?filingID=876661-17-219&CIK=1386926
REMOVAL DUE MAY 5 2017
Read more: SEC Form 25 http://www.investopedia.com/terms/s/sec-form-25.asp#ixzz4fIXy2mnj
Follow us: Investopedia on Facebook
BREAKING DOWN 'SEC Form 25'
Securities may be delisted from an exchange for various reasons. Bonds may have matured or been called and redeemed by a company. Another reason may be that a company has been taken over by another company and all of its outstanding securities have been exchanged for cash or another security.
https://www.sec.gov/rules/final/34-52029.pdf
POR 7
Pg. 56 - Treatment of Preferred Equity Interests
https://www.fdic.gov/bank/individual/failed/wamu_confirmation_order.pdf
This has nothing to do with our Escrows. Perhaps actually reading the article would help you with why they're raising this capital.
As to when? I am only using financial basics: Money does not sleep and I do not believe after these events it will be long before we see it in escrow. I have no inside knowledge when the settlement date of April 7/11 th for the DB event to settle IMO
https://seekingalpha.com/article/4061019-deutsche-bank-capital-raise-good-first-step-enough
Still trying to find out which page number this is on? Any idea? I figured you would know.
http://online.wsj.com/public/resources/documents/WM-Examiner-Report-pt1.pdf
Wrong assumption. WMI retained interest of WMB pledged loans. As per Hochberg's report.
OK in all fairness TPG Group still has 300 million shares THAT WERE CONVERTED TO NEWCO SHARES ? AND AS MANY as 300 MILL of the MARKERS..........
hope thats better but I thunk you KNEW EXACTLY WHAT I MEANT ANYWAY
TPG Group still has 300 million shares?
As of March 1, 2017, 206,380,800 shares of the registrant’s common stock, $0.00001 par value, were outstanding.
Just stating the "BOBVIOUS".
ALL IMHO and remember TPG group? still has 300 mill shares here PERIOD!!!!!!!
Is this from the new WMILT 10-K for the period ending 2016?
WMILT 10-K Subordinated claims will be paid prior to any distribution to former holders of equity interests in WMI.
Trust Beneficiaries who were projected to receive value on account of their Allowed Claims against the Debtors have been issued LTIs evidencing their right to receive distributions from the Trust if, and to the extent, sufficient cash is available with respect thereto. If and when distributions from the Trust become available to Trust Beneficiaries who have not received LTIs to date, additional LTIs will be issued to such Trust Beneficiaries in accordance with the Plan and the distribution priorities that are summarized in Annex C of the Trust Agreement.
Pursuant to the Plan, holders of claims in Class 18 (“Subordinated Claims”) will receive distributions before the holders of claims in Classes 19, 21 and 22 (the former holders of equity interests in WMI (“Equity Interests”)). As of December 31, 2016, outstanding allowed Subordinated Claims totaled $38.2 million. In addition, during the Debtor’s bankruptcy proceedings, the Bankruptcy Court ordered that certain Class 17B claims (defined in the Plan as WMB Subordinated Notes Claims) be subordinated to the level of Class 18.
Such Class 17B claims remain disputed and unliquidated. The allowance of any Subordinated Claims (including WMB Subordinated Notes Claims) would affect the amount, if any, of distributions that would otherwise be available to the former holders of Equity Interests. For additional information regarding these matters, see Item 3 of this Form 10-K under “WMB Subordinated Debt Misrepresentation Claims.”
Furthermore, and as discussed in more detail in Item 3 of this Form 10-K under “Mortgage Pass-Through Litigation”, the Bankruptcy Court has indicated that it will allow one Claimant to re-file its proof of claim as either a General Unsecured Claim (as defined in the Plan) or a Subordinated Claim, as determined by the Court, when recoveries become available to holders of Subordinated Claims. Such re-filing, and the ultimate resolution of any such claim may affect the amount, if any, of distributions that would otherwise be available to former holders of Equity Interests.