Mr Cooper Group Inc (COOP)

[rainbow1111]

IMO, you are right, sometimes right. The language seems clear to me. The new company will not be traded on "any national securities exchange or other organized trading market". None of the WMI securities are now trading on a national securities exchange or other organized trading market. Our securities are traded on the OTC thanks to the MMs. Millions of shares of WAMU flavors are traded each day.

The DS does, however, restrict the sale of Newco's stock by greater than 5% owners. I think I'm safe in assuming that none of use owns greater than 5%...........so everyone relax.

As to the 300 share issue, I'm sure that, with the totality of the classes of WMI, we are way above that limit. This should be a non-issue, IMO.

I'm glad this was brought up though. I was getting bored with the posts lately.

http://www.allbusiness.com/glossaries/over-counter-otc/4949106-1.html

Business Definition for: Over The Counter (OTC)
Dictionary of Finance and Investment Terms
Over The Counter (OTC)

security that is not listed and traded on an organized exchange.
market in which securities transactions are conducted through a telephone and computer network connecting dealers in stocks and bonds, rather than on the floor of an exchange.

Over-the-counter stocks are traditionally those of smaller companies that do not meet the listing requirements of the New York Stock Exchange or the American Stock Exchange. In recent years, however, many companies that qualify for listing have chosen to remain with over-the-counter trading, because they feel that the system of multiple trading by many dealers is preferable to the centralized trading approach of the New York Stock Exchange, where all trading in a stock has to go through the exchange specialist in that stock. The rules of over-the-counter stock trading are written and enforced largely by the National Association of Securities Dealers (NASD) , a self-regulatory group. Prices of over-the-counter stocks are published in daily newspapers, with the National Market System stocks listed separately from the rest of the over-the-counter market. Other over-the-counter markets include those for government and municipal bonds.
See also Nasdaq Stock Market
Dictionary of Business Terms

Source: www.allbusiness.com/glossaries/over-counter-otc/4949106-1.html#ixzz1gtqIjuP6