Mr Cooper Group Inc (COOP)

[MadBadger]

Large,
The agreement may have been amended but for the Series R preferred shares were convertible any time at the holder's option into 47.0535 common shares of Washington Mutual Inc. an initial conversion price of $21.25 per common share. if the price of the common stock exceeds 130% of the conversion price for 20 of any 30 consecutive trading days, ($48.875) the company may, at their option, force the preferred shares to be converted into common shares at the then prevailing conversion price. In regard to the payment of dividends and upon liquidation,
What’s interesting about that is that conversion rate brings the common shares back to the original authorized common shares approved before the merger.
I’m still looking for more information regarding the agreements of the 10 Million Preferred shares Mr.Cooper Group has in their Treasury.
Your more than welcome to chime in with any information.