Mr Cooper Group Inc (COOP)

[iPrelude]

My calculation is wrong, you should use this data to make it right

From: Edgar G. Sargent [mailto:[e-mail]]
Sent: Thursday, March 22, 2012 4:36 PM
Subject: RE: Wamu
Here's information I just received from Alvarez showing conversion ratios:
142,500,000 (75% of 190,000,000) are distributed to holders of preferred securities as well as claims subordinated to the level of preferred. Total disputed claims at the preferred level are $106,514,585.09. For those claims, 2,109,051 shares are reserved. The remaining 140,390,949 are distributed evenly by liquidation preference across the $7.5 billion of preferred shares. However, while the TPS are denominated in 1,000s, the Series K has a face amount per share of $25.
For the TPS, 3,729,658.260 shares provided releases and will receive 73,849,406 shares or 19.80058 new shares per old share. This share count is after giving effect to the mandatory exchange.
For Series R, 2,906,421 shares provided releases and will receive 57,548,829 or 19.8005825 new shares per old share.
For Series K, 18,166,565 shares provided releases and will receive 8,992,714 shares or 0.4950146 new shares per old share.
For the common shareholders, they are receiving 47,500,000 shares of which 4,165,750 shares go to the Dime Warrant holders, 2,631,933 shares are reserved for disputed equity claims, 693,806 shares will be distributed to Principal Financial on account of their claims and existing common will get 40,008,511 shares. For each share of existing common granting releases in the total amount of 1,194,340,178 shares, they will receive 0.03349842 shares.
Because no fractional shares are being issued, the percentages for each holder may vary due to rounding. I’m not sure what you are using this information for, but that’s an important point for holders.
Hope this gets you what you need. I'm out until tomorrow so if you have any follow up I will probably respond then.
Edgar


Releases (and not accepting or rejecting the plan) is what matters for the calculation

So instead of $4,068,010,409 we sholud use {(3,729,658.260*1000)for REITs+ (2,906,421*1000) for WAMPQs + (18,166,565 * 25) for WAMKQs}= $7,090,243,385

So $2.538699875674296 per old $ ($ in face value of your holdings in preferred shares)

$2,538.699875674296 {or($1000*2.538699875674296)} per old wampq ($1000 face value securities) unit

$63.4674968918574 {or($25*2.538699875674296)} per old wamkq ($25 face value securities) unit