Replies to post #476695 on Mr Cooper Group Inc (COOP)

[es1]

APR is in place then preferred are capped at approx $2100 each.

They get the first 16b and the commons get what is left.

That is not what they did though or commons would never have released.
The commons are getting 25% of every dollar.
The preferred are getting 75%.
The reason preferred released under these terms I'd because the cap was removed.

They had a choice. Allow the commons 25% or risk the common shares rejecting the deal and the preferred would get canceled right along with the commons.

It was a compromise.
The way you are saying it they just decided they would bless the preferred for no reason and remove their cap.

P's gave U's 25% to gain the removal of the cap.
U's gave up the amount the P's will recieve in excess of $2100 in return for 25% should there be less than $15b.

A compromise.