Mr Cooper Group Inc (COOP)

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The series R preffereds are convertible and will be converted to commons. The max conversion rate is 114.8 common to 1 PQ share. But the the Judge can decrease the ratio during the reorganation plan, if it goes at 114.8 to 1 then we must recalculate the PPS for common. The KQ are not convertable and are less risky. The conversion make PQ's more risky. Back in Dec they talk about how to convert the series R and we will see during the reorganation the rate they request and if the Judge will agree or lower the ratio.