Mr Cooper Group Inc fka COOP

[Large Green]

Dmdmd1 Research - I Concur With Dmdmd1 100% on Number of Shares Returned To Investors Who Signed Timely Releases by 3/2012 and Agree With Timing of Share Return


IMO...my conclusions as of December 14, 2020 @ 1000 CST:

Bonderman et al equity in WMI common shares:

April 08, 2008 (Bonderman et al infuses $7.2 billion cash into WMI): upon execution of the transaction Bonderman et al owned 20% of WMI common shares

September 26, 2008 @ 0800 EST: Bonderman et al owned 822,871,428 WMI common shares

Thus, Bonderman et al. = 822,871,428 shares of common stock / 1,194,340,178 total shares released = 68.89% of the common shares released are owned by Bonderman et al.

March 19, 2008 (emergence): 822,871,428 WMI common shares x 0.03349842 conversion to WMIH = 27,564,892 shares of WMIH

Thus 27,564,892 WMIH / 200,000,000 outstanding WMIH upon emergence = 13.782446%

October 2018 (Post merger with NSM after 12:1 reverse split):

27,564,892 WMIH / 12 = 2,297,074 COOP shares

Thus 2,297,074 COOP shares / 90.85 million current outstanding COOP common shares = 2.5284%

In order to maintain the original “old and cold” WMI share structure [i](to keep NOLs intact):

Thus 13.782446% / 2.5284% = 5.451054421768707

Therefore Bonderman et al will need to be issued 5.45 times their current COOP (assuming Bonderman et al didn’t sell any WMIH or COOP shares) common shares to keep the original WMIH share structure intact to keep the NOLs (by keeping a 51% ownership of WMIH legacy equity interests)

From Large Green - Dmdmd is basing the 5.4 multiple of returning shares on the math formula that was used in 3/2012 which was one old "WAMPQ" received almost 20 NEW WMIH shares and 33 old WaMu common shares received one new WMIH share and the WAMKQs were almost 2 to 1 ratio

***Dmdmd1 Update***

IMO...my conclusions as of December 14, 2020 @ 2200 CST:

Upon emergence (March 19, 2012):

WMIH outstanding shares = 200 million

If COOP issues new shares to WMI Escrow Marker Holders at an increase commensurate to their original WMIH shares then IMO...COOP would have to increase by a factor of 5.451054421768707

Thus my calculations:

200,000,000 Initial WMIH shares x 5.451054421768707 = 1,090,210,884.353741 WMIH shares

1,090,210,884.353741 WMIH shares / 12 (instituting the reverse split post NSM merger) = 90,850,907.02947845 COOP shares

Therefore WMI Escrow Marker Holders would be issued 90,850,907 new shares of COOP.

Current Outstanding shares of COOP (as of October 23, 2020) = 90,853,569

https://www.otcmarkets.com/stock/COOP/security

So the Outstanding shares of COOP would effectively double by virtue of issuing the new shares to WMI Escrow Marker Holders.