REORGANIZATION is going to complete maybe this months....
Telling you why...
Some Facts
We ride the coattails of the creditors. As we paid the creditors through cash, we are riding now these claims...
The 1.848 billion shares, which are not restricted anymore, because rkt holds under 78% actually, will be allegedly the compensation for the old shareholders... here is why...
The 1.848 formerly restricted shares had always a book value near 7.390 Billion $...
From where do we know this number? From the mm03-2712_8ke991.htm (you can google it, page 24) in 2012 related to Washington mutual Preffered Shares
Remember until there claim is paid in full!!!
The Commons in the same Document have a claim about 13.050 billion $...
What we know, the mr cooper group got 705 million shares for the actual shareholders...
With the takeover of mr cooper things are going to change.... The new book value of rkt is going to be roughl 8$... in the last sec document of RKT it was stated 22.274 equity.... divided by actual shares 2.820 billion are making roughly the new book value of 8$ per share...
Now take the 1.848 billion shares, which are not restricted anymore, with the new book value of 8$, you will have roughly 14.800 billion $... From where do we know this number? This are the actuall claims in the fdic recievership??????!!!!
One step further know.... as Judge Mary Wallrath stated, nobody gets more than they deserve...
Preffs Claims 7.390 billion $ / 8 $ = roughly 924 million shares of the 1.848 billion shares...
The preffs get their book value 1 on 1 back... but not as preffereds anymore, just as commons, thats why they were cancelled in 2012
The rest of shares will have a roughl value 7.410 billion $ / 1.194 realesed commons shares = 6,20$ per old common
Now look here.... The reorganized shareholders got 190 million shares/$ (142,5 preffs/47,5cmmons) (2,5% related to be paid from the commos claims) the claim had to be roughly 7.600 billion dollars less 2,5% (190 million $) = 7.410 dollars
Now the new picture...
Preffs roughly 924 million rkt shares with a book value of 8 $ = 7.390 billion $
Commons roughly 925 million shares with a book value of 8 $ = 7.410 billions $
Mr cooper Group shareholders got roughly 705 million shares with the new book value of 8 $ = 5.640 billion $
Take the commons 7.410 $ and the mr cooper group 5.640 $ together, you will have 13.050 billion $.....!!!!!
From where do we know this number???? From the same document in 2012, the original claim of the commons!!!!
Who ever planned this... was the smartest guy in the room!!!!
That cannot be a coincendence....
Things are coming finally to an end....
Let us think, that RKT will be traded in the next week above 24 $....
The preffs will get 924 million shares for 24 $ = 22.200 billion $ / 7.500 billion old preffs = roughly 3 times for their old shares...
The commons will get roughly the same = 22.200 billion $ / 1.194 old shares = will be equal to 18,50 $ per old share...
everything till book value will be taxfree, because its a compensation....
Enjoy the ride ot the next couple of weeks/months
Fair and Reasonable
Greetings
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