Replies to post #509802 on Mr Cooper Group Inc (COOP)

[hotmeat]

That may have been but the TPS shares were worth only $4B and upon the Exchange Event were converted in depositary shares of WMI. The full amount may possibly have been the total of the REITS (cancelled) + TPS together. Of that $4B in TPS 93.2% or $3.73B worth were released.


Quote: "In accordance with the terms of the documents governing the Securities, the Conditional Exchange of the Securities will occur on Friday, September 26, 2008 at 8:00 A.M. New York time. As of the time of the Conditional Exchange, each outstanding Security will be exchanged automatically for a like amount of newly issued Fixed Rate Depositary Shares or newly issued Fixed-to-Floating Rate Depositary Shares, as applicable, each representing a 1/1000th interest in one share of the applicable series of preferred stock of WMI."