Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I am thinking at least 5 to 10 business days before newly formed company started to trade. They said, it will be trading on ticker symbol Wmih. I am hoping for something good for all of us.
I saw your upcoming important dates to look. I am trying to put pieces together. They have voting on 17th May.
I do not know the answer to your question. My guess is may be after 17th of May.
WMIH, NSM and Wand they have to provide more information soon before trading begins as Wmih (with NSM) because existing shares are around 200 Million and after merger around 500 Million new shares are going add for trading from NSM. We have to hear some news.
Under the terms of the agreement, Nationstar shareholders may elect to receive $18.00 in cash or 12.7793 shares of WMIH common stock for each share of Nationstar common stock they own, subject to an overall proration to ensure that 32% of the total outstanding Nationstar shares are exchanged for the stock consideration. Upon completion of the transaction, Nationstar shareholders will own approximately 36% of the combined company and WMIH shareholders will own approximately 64%.
The aggregate consideration payable to Nationstar shareholders will consist of $1.2 billion in cash and WMIH shares currently anticipated to be valued at approximately $702 million1. In addition, approximately $1.9 billion of Nationstar’s existing senior unsecured notes will be refinanced at closing. WMIH has secured $2.75 billion of financing commitments in connection with the transaction.
Ok, corrected. I am. :)
Good Morning AZ, we are so glad to see you.
I read your post. Sorry My mistake. Did not click the link.
Did anyone see this?
Notice of Effectiveness (effect)
Date : 01/30/2018 @ 6:01AM
Source : Edgar (US Regulatory)
Notice of Effectiveness (effect)
Print
Alert
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
NOTICE OF EFFECTIVENESS
Effective Date: January 29, 2018
Accession Number: 0001193125-18-021846
Submission Type: POS AM
CIK: 0000933136
Company Name: WMIH CORP.
File Number: 333-205426
Thank you AZ and all the board members who is helping in breaking the documents.
"University Study’, ... is one thing’, ... the study and witness of practical application ? ... is truly priceless’, ..."
This is true. applying what we learn in school to real life incidents and helping others who are in need of help is like earning honorable degrees and Little Nobel prizes from the hearts of people who were touched by their kindness.
Newflow, I read and appreciate your posts. You are one of the kind people (leaders on this saga) who share what they find. Thank you and for all the people who did immense help by breaking down the documents.
This dragged too long, we are all frustrated. Be strong. We came this far and littlebit more we go and we should receive our first paymt.
We are still here AZ. Reading and Reading all the posts and trying to add dots, gathering all the information and guessing how much money we get and when.
Hotmeat, I may be wrong.
I remember seeing that somewhere else also that 600M allocated in trusts. In that document page # 1 ending paragraph to page # 2 beginning paragraph.
this is another one.
http://www.globic.com/wamurmbssettlement/pdfs/2017-04-26%20Duff%20Report.pdf
AZ Happy New Year to you and to your family.
We all hope to hear good news soon.
Good Morning to every one,
Today is going to be a long day with lot of suspense and lot of predictions. Make sure you all take little rest before conference call because we have lot of reading to do after the call Good Luck for us.We all hope that something positive will come out of the conference call.
Thank you all AZ, Johnny, Ron, Hotmeat and every one.
All of you are sharing lot of hardworked due diligence with us.
Words cannot express for all the things you are doing for us.
God Bless you all.
Happy Thanksgiving to Everyone. We have to have lots of fun now as our hopes of getting paid are high. Thanks to all for their kind help and sharing all their knowledge.
BBANBOB Happy Thanksgiving to you and your family. Have wonderful time
Happy thanksgiving AZ. We really appreciate your postings. Have wonderful time with your family.
is it posted already?
WMIH Corp. Announces Receipt of Nasdaq Minimum Bid Price Notification
Print
Alert
WMIH Corp. (NASDAQ:WMIH)
Intraday Stock Chart
Today : Thursday 16 November 2017
Click Here for more WMIH Corp. Charts.
SEATTLE, Nov. 16, 2017 /PRNewswire/ -- WMIH Corp. (Nasdaq: WMIH) (the "Company") today announced that, on November 14, 2017, the Company received a notice from Nasdaq that the Company is not in compliance with Nasdaq Listing Rule 5550(a)(2) ("the minimum bid price requirement").
The notification has no immediate effect on the Nasdaq listing of the Company's stock. The Company
gjw46 Page #2 says we are cash rich. :)
As a Special Purpose Acquisition Company (SPAC), WMIH Corp is cash rich. However, this makes them capital inefficient, and it burdens their high-profit margins. It is one of the reasons why WMIH Corp's stock price is trading at a lower price/book multiple of only 0.57, while the peer group has a median price/book multiple of 1.19.
Investopedia says
management team of the SPAC then has a specified period of time, usually 24 months, in which to identify a private company acquisition target and complete the acquisition. If such a deal is made, management of the SPAC profits by means of owning 20% of the common stock acquired for nominal consideration through founder shares, and other shareholders receive an equity interest in a new company.
If an acquisition is not completed within the specified time period, then the SPAC is automatically dissolved and the money held in trust is returned to investors.
(Wikipedia)
he SPAC must sign a letter of intent for a merger or an acquisition within 18 to 24 months of the IPO. Otherwise it will be forced to dissolve and return the assets held in the trust to the public stockholders. However, if a letter of intent is signed within 18 to 21 months, the SPAC can close the transaction within 24 months. Today, SPACs are incorporated with 24-month limited life charters that require the SPAC to automatically dissolve should it be unsuccessful in merging with or acquiring a target prior to the second anniversary of its offering.
In NYSE site it says
SPACs bring together experienced management teams, often comprising industry veterans, private equity sponsors or other financing experts who can leverage their expertise to raise capital to acquire, then operate, a new public company. within 24 months or less, a SPAC will find an attractive company to acquire and, once that transaction is completed, a new publicly traded company is formed.
Thank you LuckyPanda, We do not want to see 8k about delisting. We need something positive to keep us going.
I will also keep my eyes peeled for PR.
Good Luck to all of us.
Please God help us to fight with Volcanic Mountain (JPM and FDIC). It was a quick slide at that time one after another and we all fell and came close to fire. Even though it was our choice to slide and play with fire to recover losses from BK and make little money but we saw a lot of unfairness and abuse of power.
Lot of Good and kind hearted people pulled us a side. Now We are hanging in. And Reading and Reading ...
LuckyPanda, Do you think Quiet period is about 4 to 6 weeks of the time for new IPO's (I believe it applies also after 40 to 90 days of IPO) and Business changes (mergers). Is it same? Googled "Quiet Period"
During the four weeks prior to the close of the business quarter, which is known as "the quiet period", company executives are forbidden to speak to the public about the business in order to avoid giving analysts, journalists, certain registered investment advisors, private investors, and portfolio managers an unfair advantage - details that would amount to insider information.
There is also a second "quiet period" for companies issuing an IPO (initial public offering).
They also said
Essentially, there are two kinds of quiet periods for publicly traded companies. The first surrounds a company’s initial public offering (IPO) and is heavily regulated by the SEC, while the second is more loosely defined, and refers to the period of time in which a company limits its interaction with investors and analysts immediately preceding or following the quarter-end, but before results are actually released.
DEFINITION of 'Quiet Period' In terms of an IPO, the period where an issuer is subject to a SEC ban on promotional publicity. The quiet period usually lasts either 40 or 90 days from the IPO.
JB3136.. You are so funny. It is really true that they are really beating us up.
I believe most of escrow holders are levelheaded people. This long saga is bringing all negetive side of people.
I know exactly what I did. Put all the information and took decisions. We are responsible for our decisions.
I am so thankful for people kindly sharing all their knowledge.
Good Luck for all of us.
Good Morning AZ, Thank you again for posting here. We do read all your posts. Please do not leave us.
In 2008
https://www.seattletimes.com/business/wamus-bankrupt-parent-company-may-pay-turnaround-expert-695-an-hour/
The company’s assets include approximately $5 billion that was on deposit at the bank when it was seized by the Federal Deposit Insurance Corp. on Sept. 25 and sold to JPMorgan Chase, according to the filing. Ownership of those funds is now unclear.
Thank you AZ,RON, Uncle Bo, FWH333,Johnnywantsome, nightrader and all the members who are contributing lot of information to the board.
Even though the board attackers are in full swing in attacking, you all are keeping the spirit alive and keep us going.
I do read every word sometimes more than 5 times to understand what is going on.
I just do not know how to say Thankyou enough for you all.
Thank you again. I understand.
I am hoping that they won't shut Wmih.
KKR took Toys R Us private and one month ago Toys R Us filed Bk
Large Green, Can you explain what is shutting down Wmih.
I understand QA, replacement funding and may have to return 600M.
You think we have to look into shutting down Wmih in the future.
Thank you in advance
"explaining replacement funding, shutting down WMIH or Qualified Acquisition (QA), the price will continue ticking down to basically zero."
AZ You never said anyone to buy or directed anyone to do something.
You kindly presented facts and explained things and people looked and took their own decisions.
Do not let their sentences bother you, it is not them talking its their frustration talking.
This saga took very long time, tested our patience and brought negetive side from all the good people in the boards.
Take Care
AZ Thank you for sharing your research. We always read your posts with lot of attention. We are thankful to you for presenting that.
It is true, sometimes these documents drive us crazy who has limited knowledge. We are trying to add all the dots.
Thanks again
Thank You AZ, For letting us know what is happenning. Hopefully we will get good news soon.
Thank you BBanbob. Good to see you back. How was your vacation. We missed you.
Thank you AZ
Is my understanding correct.
WMI owns WMIiC. Wmih is result outcome of bankruptcy of WMI
Until March 2012 when POR 7 approved equity got sealed and that belongs to escrows. After that escrows get reasonable interest and whatever the loans paid back on our escrows belongings go to escrow including principle amount when the cutoff came in.
WMIH has to pay the escrows (old shareholders) and take illiquid assets and future loan obligations start running its old business into new business,
Until the formalities are done no one can touch any money.
Or am I making myself more confused.
May be we hear good news soon.
Goldman Sachs got new 97,387 shares totaling their shares to 252,808.
Bank of New York Mellon corp also added 38,148 more shares totaling 801,345.
AZ Good to see u back. We missed u.
AZ, Do they have court hearing on 7/17 Monday in Delaware? I remembered something around that date.
Thank You AZ for answering and sharing all your research with us.
AZ, You mentioned residential trusts. I am not greedy, but do you mean there are commercial loans portfolios also there in horizon. Or I am reading too much?
"Wahuq" When I Google Washington Mutual capital trust 2001, it says it used to be Wahuq