Mr Cooper Group Inc (COOP)

[marayatano]

I believe the HF can still make a really good profit even though we (Nate Toma) Fudged up their plans for taking 100% of WMI2.

So SNH (x 4) get 5% PLUS can take up to:

20% of the common float;
20% of the p float;
unlimited of the k float;
unlimited of the Dimeq (if there are willing to take the risk or if they still have inside info); and
this does not even include what they own in the REITS float.

Combined with the TPS's holdings, I am sure they will own a substantial amount of the float of the new WMI2, if not the majority.

Not only that, imo, originally, SNH wanted the NEW shareholders to be less than 300 shareholders so they do not have to report (take private).

IMO, odds are, when the WMI2 emerges out of BK, I would bet there will be an "offer" from some "company" want to buy your shares at "X" price and the SNH as the beneficiaries.

IMO of course.

This will be interesting to see because i think the HF only wanted a reinsurance co they were in control of, as it was at the time, a popular trend among HF managers, such as Einhorn & Cohen, and offered the possibility for huge returns as long as they were in control of raising the capitol and forging the deals

Quote:) Provide a conversion ratio for Preferreds and Commons into NewCo equity. Right off the top may be 5% of NewCo going to SNHs who decide to take common stock instead of being cashed out – I am assuming, that since the SNHs wanted NewCo in the past, wholly to themselves, that they still want whatever piece they can get – so I’m assuming that 5% will go to SNHs.