Replies to post #422000 on Mr Cooper Group Inc (COOP)

[GO4AWILDRIDE]

sound

There is NO PAR for COMMONS.

PAR is only stated for P's & K's, which is $1000 & $25 respectively

As COMMONS are never talked about in terms of PAR, the sky is the limit.

Now to stop all of those that will remind me that there is NO CAP on P's & K's I am NOT STATING that there is a cap.

Anything coming back to EQUITY will be split 75/25 WITH NO CAP on P or K holders.


GO4AWILDRIDE

[distrojunky]

Soundincrest,

GO4AWILDRIDE is definitely right, there is no cap for Preferred and Common shares, the 75%/25% split determines how much is available.

Approximately $10B will give par to preferred and due to the 75%/25% split, $2.5B will be there for common shares. So with about 1.1B common shares released, the return for commons shares would be (2.5/1.1), about $2.27 per share. Of course this ratio can be used for any amount returned from WMILT.

distro.

[clawmann]

Only prefs (P's and K's) have a par value.
Commons have no par value.

Actually, prefs had a par value, but because they have been cancelled and replaced by escrow markers, the concept of par value is no longer applicable.

In order for a pref escrow marker to receive the par of its predecessor security, $10 billion would need to be distributed. I optimistically estimate the chances of that happening at about 1 in 10,000. And only 1 other poster that I know of holds more P escrows than I do, so it is not as if I don't care about the amount that will be distributed.

I am extremely irritated at a couple of posters who have convinced many in this congregation of an absolute fantasy: that a major payout is a certainty. It is not, no matter how developed and convincing their theories are. Catz' payout estimate is going to be far far closer to the reality.

Don't give up your day job.