Replies to post #427236 on Mr Cooper Group Inc (COOP)

[Evintos]

Exactly what the statement says in the POR:

To the extent a holder of an Allowed Senior Notes Claim receives Reorganized Common Stock pursuant to the foregoing election, such holder’s share of the Runoff Notes to which the election was effective shall not be issued and Reorganized WMI shall retain an economic interest in the Litigation Proceeds (and such interest shall not constitute a component of the Liquidating Trust Assets) equal to fifty percent (50%) of the Litigation Proceeds such holder otherwise would have received (solely in its capacity as a holder of an Allowed Senior Notes Claim) (and the holder’s rights in respect of distributions from the Liquidating Trust shall be adjusted to the extent such proceeds are received by Reorganized WMI).

Here's what that portion states in simple terms. Senior note claims holders can receive pro rata share of the Common Stock Allotment if they gave up 50% of Litigation Proceeds. WMIH will receive those litigation proceeds (equal to about 50% minus fees, etc.).

Reorganized Common Stock Election. On the Ballot, each holder
of an Allowed Senior Subordinated Notes Claim that elected to receive Runoff Notes in accordance with the provisions of Section 7.2(a) of the Plan shall be provided the right to elect, in its sole and absolute discretion, to receive such holder’s Pro Rata Share of the Common Stock Allotment in lieu of (i) fifty percent (50%) of such holder’s Litigation Proceeds Interest (solely in its capacity as a holder of an Allowed Senior Subordinated Claim)

1.74
Common Stock Allotment:
Ten Million (10,000,000) shares of Reorganized Common Stock, representing five percent (5%) of the issued and outstanding
Reorganized Common Stock as of the Effective Date.

IF ALL of the Senior Note Claim holders elected to receive reorganized common, a total of 10 million shares which is approximately 5% of the total outstanding reorganized common stock (WMIH) would belong to those Senior Note Claim holders. It also means they only own 5% of reorganized WMI (unless they also held equity interests).

Reorganized WMIH economic interest in the litigation proceeds is equal to 50% (minus fees, etc.) of litigation proceeds. WMIH (Reorganized WMI) received 50% of the Litigation Proceeds from Senior Note Claim holders who received reorganized common out of the 10 million alottment (total which is now known to be 22.49% of total litigation proceeds value).

I don't know how many times you've read the POR, but my use of the word obtuse is more than applicable due to your failure to understand what you read and your inability to accept the fact that the POR and the recent 8k refutes your belief that economic interest is limited to 2.5%.

I don't even know why you're complaining about WMIH receiving 22.49% of total litigation proceeds value. That's a good thing. Did you want less money coming back? Do you also realize that this means that a certain number of Senior Note Claim holders decided they want some reorganized common shares instead of taking a chance to get 100% of litigation proceeds? Guess who owns and represents more than 5% of reorganized common stock.

Obtuse - lacking sharpness or quickness of sensibility or intellect