Mr Cooper Group Inc (COOP)

[Lawrence 147]

Sf;

let’s think about your question. If the commons receive $42 PPS, that would indicate a liquidation of the company. The only way for the P’s to convert would be by permission of the court; but would it be at the 114 share rate or would it be another number that keeps it at $1,000 or FV? It could also be that the court would allow a conversion to reflect back dividends.

The reality is that if the commons are to see $42.00 it would mean the company continues and the stock is traded on the market, which would mean that the other series of stocks continue trading on the market and the existing rules still apply.

The next question would be; does the company have enough common shares to convert? That looks like a close call depending on the final judgment.