Mr Cooper Group Inc (COOP)

[fsshon]

If you read the latest 10-K, you know WMIH is required to announce a "qualified acquisition" by July 5, 2015. They are not required to close the transaction until Jan 5, 2018, in which the preferreds are mandatorially required to be converted to common equity.

Keep in mind, to issue those commons to the warrant holders and preferred shareholders, the corp must issue new equity to the 85% exit class that is now considered a 5% or more, shareholder group. They were grouped into a "consolidated group for tax purposes under IRC 382 to protect the NOL's.

You do not authorize 3.5 B in shares from 500M if you do not expect to "forward issue shares to the class that protects a 6 Billion NOL that is your largest asset."