Mr Cooper Group Inc (COOP)

[WithCatz]

Large, it's a term-of-art in bankruptcy cases. The effect of executing an approved 'Plan of Reorganization' is to cause a "New" company to become in existence, shedding all the baggage of the "Old" company.

{That's also why new securities are issued as well.}

Of course, it's a reorganized company, by definition.

But "NewCo" is the normal shorthand used, as opposed to "OldCo" (the current company).

It's normal bankruptcy terminology.

....Catz