Mr Cooper Group Inc (COOP): That's not correct. KKR has only 1/3...

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Re: hotmeat post# 510061

Tuesday, 02/20/2018 2:31:45 AM

Tuesday, February 20, 2018 2:31:45 AM

That's not correct. KKR has only 1/3 of the Series B, the other 2/3 went to Citi and their investors, like Appaloosa and other "old holders", but also many new. So KKR here ends up with around 1/3 of the 444M Commons = 148M Commons plus additional 20M. I read (I think in a post from mordicai) that KKR relinquish the right to exercise their 61.4M warrants, but instead take "only" these 20M Commons.

Yes that is correct. From rough calculations using that 477M figure, KKR would end up with their max allowed 42-43% ownership of WMIH but they would then own more shares than legacy holders. Not sure how that will affect the NOLS??? In fact both KKR and NSM holders would own more shares than WMIH shareholders!!!

KKR- 477M shares WMIH

NSM- 399.6M shares WMIH

WMIH- 233.4M shares WMIH

That doesn't seem correct IMO.

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- Just my personal opinion, no investment advice! -
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