Dime Bancorp Inc (fka DIMEQ)

[jmbell42]

Hardasset,

If you look at the DIMEZ warrant agreement, it states that we are nominally to be paid in stock of the company who is currently the custodian to the Anchor litigation. That should, by all rights, be JPM. However, in this twisted case, it would be in WAMUQ or re-organized WMI stock.

If stock is not available, then the warrant agreement allows for adjustments for payment to be made in cash, property, or some other "in kind" payment. Currently the LTW counsel is advocating for cash payment (or possibly re-org WMI stock).

Bluzie, myself, login, and others on this board have iteratively valued the warrants as more information becomes available and the current consensus value range is in the ballpark of $2.20 - 2.60, depending upon:

(1) whether or not we get the additional $63 Million (or more)

and (2) how the final tax grossup is treated (still being debated in court).

There is a sticky post from Jaxstraw that provides a pretty good valuation. I think that the numbers might have been updated since that sticky post... but it's as good an estimate as any possible.