Mr Cooper Group Inc (COOP)

[bkshadow]

$10.7M Expended on Acquisition Attempt

September 30, 2015 - 10Q - Page 30

http://www.sec.gov/Archives/edgar/data/933136/000156459015009929/wmih-10q_20150930.htm

During the three months ended September 30, 2015, WMIH identified a potential acquisition opportunity and participated in a competitive sale process with respect to an operating division of a public company. However, we were not able to reach a definitive agreement for the transaction and discussions ceased on October 13, 2015. In connection with the foregoing, the Company expended time and resources to explore this potential acquisition, including the incurrence of approximately $10.7 million in fees and expenses for financial advisory, legal and consulting services. As previously disclosed, proceeds raised by the Company in connection with the Series B Preferred Stock offering can be used to fund the exploration of acquisition opportunities, including such opportunities that are not ultimately consummated. The Company is continuing to work with our strategic partner, KKR, to identify, consider and evaluate potential mergers, acquisitions, business combinations and other strategic opportunities. There can be no assurance that any transaction will occur or, if so, on what terms.

That followed a precursor 8K on October 13, 2015.

Item 7.01 Regulation FD Disclosure.

WMIH Corp. (the “Company”) has previously disclosed that it continues to evaluate strategic opportunities across a broad array of industries for the purpose of facilitating an acquisition by the Company of one or more operating businesses.

During the three months ended September 30, 2015, the Company identified a potential acquisition opportunity and participated in a competitive sale process with respect to an operating division of a public company. However, we were not able to reach a definitive agreement for the transaction and discussions ceased on October 13, 2015. The Company expended time and resources to explore this potential acquisition, including the incurrence of reasonable fees and expenses for financial advisory, legal and consulting services. We expect that the majority of these fees and expenses will be recorded in the Company’s financial statements for the period ended September 30, 2015 and will be reflected in the Company’s upcoming Form 10-Q to be filed in November.

The Company is continuing to work with our strategic partner, KKR, to identify, consider and evaluate potential mergers, acquisitions, business combinations and other strategic opportunities. There can be no assurance that any transaction will occur or, if so, on what terms.

Interesting to note that the 8K and 10Q must mean that the BOD and consultants consider the WMILT (according to some) is an "operating division of a public company."