Saturday, May 22, 2021 9:27:35 AM
Only the Warrant is a 79.9% dilution. Total shares combined would be 9 billion.
Later, FnF would have $155 billion deficit of Core Capital over the Risk-Based Capital requirement, after the SPS are cancelled.
Assuming an average price of the stock offerings of $4ps, there will be 39 billion more shares outstanding.
Total common shares outstanding = 48 billion.
That's a dilution of 96% of the existing shareholders.
So, the target price of $200 combined, now it's $8ps.
These are round numbers because the target price of FMCC is higher than FNMA.
On the other hand, under the Secret Plan, the UST would have to reimburse $163.5 billion to FnF and they would have a Capital Surplus over the Risk-Based Capital requirement (without the buffers) and the warrant is cancelled. Zero dilution.
This is why the plaintiffs are corrupt and they just pursue stock offerings at rigged prices.
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