Mr Cooper Group Inc fka COOP

[DarkB4Dawn]

JWW, if the deal is 11 shares of RKT per COOP share... where does it state that after that, or before that event, COOP will have $2 dollars subtracted per share? What I read was:

Presentation quote -
In connection with the completion of the transaction, Mr. Cooper will declare and pay a dividend of $2.00 per share of Mr. Cooper common stock.

SEC submission -
Prior to the Maverick Effective Time, Mr. Cooper will pay to its stockholders a special cash dividend of $2.00 per Mr. Cooper Share, with a record date and payment date determined by the Board of Directors of Mr. Cooper.

My understanding is we would get 11 shares of Rocket common class A shares per COOP share plus (+) $2 per share cash for each share of COOP prior to the conversion of COOP to RKT.

So if $2 per share of COOP is deposited with our brokers in cash prior to the event... Would it not just be the the 11 shares of RKT? Unless there is a belief that by paying us $2 in cash that would reduce the price of COOP by that amount. However, if the BOD sets the date for that payment, it may not be the day prior. Just trying to understand why your subtracting the $2.