Walter Investment Management Corp (WAC)

[BigDog0708]

My humble observations of stock restructure relating to the most recent 8k filing on Feb 2. See prior post(s).

1. Appears total number of new shares to be issued is in line w/ the current number of shares outstanding. (Approximately 30 MM shares)
2. Par value of new issuance is 0.01. Market value TBD.
3. When you account for dilution (preferred stock and Co management incentive plan), the "Recovery" for existing common share holders is weighted more so to the Warrants. (4,252,000 New Common Stock Shares vs Series A and B Warrants (7,245,000 and 5,748,750 respectively))
4. Exact terms of the Warrants is TBD.
5. Exchange: NYSE
6. New Symbol: DHCP
7. Effective Date: TBD/Near Term

Note: The one thing I am uncertain of is the "Participation Date". Which is at what date are they using to recognize holders of common stock to be awarded the new issuance. File Date, December 31st or the Effective Date?? My gut says Effective Date. But obviously they have already pre-determined a total number of new shares to issue and effective date is yet to be determined.