Washington Mutual Preferred fka WAMPQ

[etzetrade]

I may be wrong. Need you to point out where I am wrong. TIA.

I think P will be converted 40 share of Newco instead of 15 shares.

Assuming 200 million new shares issued.

P&K have 70% of 200 million shares equal to 140 million shares. The K has 20 millions and P has 120 millions shares.

Assuming the new share is $7.00/share. Then, the P has

$7.00 x 120 million shares = $0.84B or 28% of FV, or $280/share.

Also, it is equal to 40 new shares.