Mr Cooper Group Inc fka COOP

[bkshadow]

mordicai, depends if were dealing with Beauty's...

...or the Beasts' (in Greywolf, Tepper and KKR) coattails.

...I don't have the answer.

...I will say that KKR's people are 'running the show; and to think just because Gene Davis left (he was overboarded based upon a number of shareholder complaints across companies; he's the KKR 'front or rep) KKR isn't still got the reigns is not realistic.

...so, again in CYA mode possibly, with Steven D. Scheiwe the new Chairman of the Board (as an Independent Director) and head of the Finance Committee (as an Independent Director, which has retained 3rd party finance consultants), it would appear he would act in the best interest under the current Series B arrangement.

...but he might have gotten a quid pro quo as he now sits with Gene Davis on another public board on a Committee with special purposes.

http://investor.versoco.com/2017-09-21-Verso-Corporation-Board-of-Directors-Forms-Strategic-Alternatives-Committee

...he has been on the Verso BOD since 2016 (joining Gene Davis) and it is not even reported on the WMIH BOD website under his BIO (odd, in the least).

Steven D. Scheiwe

Mr. Scheiwe is the Chairman of the Board and has served as a director since March 2012. Since 2001 Mr. Scheiwe has been President of Ontrac Advisors, Inc., which offers analysis and management services to private equity groups, privately held companies and funds managing distressed corporate debt issues. Mr. Scheiwe also serves on the board of directors of Hancock Fabrics, Inc., and Alliance Semiconductor Corp. During the last five years he has also served on the board of directors of FiberTower Corporation, Primus Telecommunications Group, Inc., Mississippi Phosphates Corporation and Inner City Media Corporation. Mr. Scheiwe chairs the Nominating and Corporate Governance Committee and is a member of the Audit Committee and the Compensation Committee.

...other comments in RED.

mordicai Saturday, 09/30/17 12:09:09 PM
Re: bkshadow post# 489832
Post #
489835
of 489838 Go
Do not the provisions of Sec 382 put a ceiling on the number of shares some of these series B holders can try to get? Yep, definitely; that's why they will calculate who will be capped at what,
as well as either bring in other affiliates "that they don't have IRC 382 control" over, or bring in other friends.

Maybe wmih has not done a deal because wmih is balking at the extra shares if conversion is at 1.75. WMIH is "them" when you consider the existing common holdings, and the Series A and B preferreds. The point being, if we're dealing with the Beast, the get MANY MANY more shares below $1.75.

Why not do one small acquisition first to get share price up beyond the 2.25 and a bigger one a month later to minimize dilution? Ditto, they are WMIH.

If there is any shortfall in cash to payoff Series B holders, doesn't wmih really only have to negotiate with say the Texas teachers to delay payment while paying off all the others and get financing elsewhere if the Series b are unreasonable? Again, they are WMIH.Or to avoid such massive dilution sell shares in the open market to raise the shortfall? Again, they are WMIH and "would benefit" from the dilution the most.

Cannot wmih buy the assets of any company without a merger, thereby avoiding shareholder approval even if the Series B are against it? I believe so.