Mr Cooper Group Inc (COOP)

[dix]

"Whomever said that is misinformed..."

The confusion may be based in the prospectus. At that time the conversion price was $21.25. At that same ratio the commons would have to exceed $1.909375 as of today's closing even if the conversion process was not in abeyance due to BK.

Ten


http://www.sec.gov/Archives/edgar/data/933136/000095013407025343/v36123b2e424b5.htm#108

"Mandatory Conversion at Our Option

On or after December 18, 2012, we may, at our option, at any time or from time to time cause some or all of the Series R Preferred Stock to be converted into shares of our common stock at the then applicable conversion rate. We may exercise our conversion right if, for 20 trading days within any period of 30 consecutive trading days, including the last trading day of such period, ending on the trading day preceding the date we give notice of mandatory conversion, the closing price of our common stock exceeds 130% of the then applicable conversion price of the Series R Preferred Stock."