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Friday, January 05, 2018 3:47:18 PM
(($600,000,000 million Offering divided by $1.35 Conversion Price = 444,444,444 million WMIH Common Shares.))
The Series 'B' Holders are not buying WMIH Commons. This is a conversion of 'B' stock to Commons. There will be no additionally monies to the Company.
In addition to this, there will be approximately 11,427,720 million more WMIH Common Shares added to the approximate 444,444,444 million WMIH Common Shares.
"A special distribution of 19.04762 shares of Common Stock per share of Series B Preferred Stock..."
((600,000 Series B Preferred Shares multiplied by 19.04762 WMIH Common Shares = 11,427,720 WMIH Common Shares.))
Approximate total Shares = 444,444,444 million + 11,427,720 = 455,872,164 WMIH Common Shares.
Plus, the approximate 206,714,132 current Outstanding Shares would be 455,872,164 + 206,714,132 = *662,586,296 WMIH Common Shares.
* does not include any Warrants that may be exercised
•A special distribution of 19.04762 shares of Common Stock per share of Series B Preferred Stock as a result of the consummation of an Acquisition or Qualified Acquisition, as the case may be.
IS THAT A DISTRIBUTION ASIDE FROM THE STOCK THEY BUY OR IS THAT THE AMOUNT - 19 X 600,000 THAT THEY CAN BUY AT 1.35
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