Mr Cooper Group Inc (COOP)

[SlyOne]

IMO: Watch out for forced conversion! Thanks I was looking for this info.

P's units price
Face 3,000,000,000
Market Val 246,000,000 3,000,000 82
Forced Convers 42,348,150 3,000,000 0.30 47.0535

H's
Face 1,150,000,000
Market Val 529,000,000 23,000,000 23
Forced Convers 8,335,890 23,000,000 0.30 1.2081

FaceValue CostofConversion Shares
P:3,000,000,000 42,348,150 41,160,500
Q:1,150,000,000 8,335,890 27,786,300
T:4,150,000,000 50,684,040 168,946,800

So for $50 mil, Mngt could could drastically simplify the company capital structure. In fact, it would cost WMI nothing, nothing to do this. All it would do is increase the shares outstanding by 168 mil. This is a real risk!

To be real nasty, They could force convert pre-settlement and lower (remove) claim preference.

Now the timing of this action, I'm hopeful this would be after trial, or after resolution of case, not on 3/4. This would occur only after mngt has a real company, not now.

Holders of P's and H's, you have been WARNED.
(I have been warned,)