Replies to post #105721 on Mr Cooper Group Inc (COOP)

[fsshon]

BONDERMAN IS RUNNING THE SHOW! EOM

[Jestiron]

BINGO! That is why I asked this question yesterday! The math is insane here,....IF they converted,..which I think they did!

[Jestiron]

The OTHER question is this: IF they converted the Preferred to Commons, what would the modified O/S be? Shouldn't there have been an increase to the O/S based on this?

Per Pinksheets the O/S is still 1.7billion shares
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=WAMUQ

Conversion would have to increase this though....UNLESS they haven't converted yet.

Thoughts?

AJestir

[Jestiron]

A LOT More info on the converted preferred:
http://newsroom.wamu.com/phoenix.zhtml?c=189529&p=irol-newsArticle&ID=1171658&highlight=

ANOTHER important date listed here peeps!
October 14, 2009
According to the link above, TPG cannot TRANSFER (EDIT) 228 million shares until that date.

Detailed information is listed under "Description of the Investment Agreement" and "Description of the Securities Purchase Agreements" in the linked Schedule 14A.

SEC LINK:
http://murielsiebertbrand.edgar-online.com/EFX_dll/EDGARpro.dll?FetchFilingHTML1?SessionID=R-CjWQHwq9khmrh&ID=5955484&AnchorName=HH_&AnchorDistance=0&BeginHTML=%3Cb%3E%3Cfont+color%3D%22%23cc0000%22%3E&EndHTML=%3C/font%3E%3C/b%3E&SearchText=%3CNEAR/4%3E(%22GLENN+R.%22,%22CARLSON%22)

[climberprof]

TJ1947

Thanks for the link.

Interesting part from that old news:

"......Other members of the investment group remain unidentified. WaMu also agreed to protect the TPG-led group from having its stakes diluted if, within 18 months, the company either raises more cash or sells itself for less per share than what the group members paid......."

It says "....WaMu agreed to protect the TPG-led....", what is that agreement between WaMu and TPG? I do not like the sound of this. Anybody knows anything?

http://seattletimes.nwsource.com/html/businesstechnology/2004354533_wamu17.html

Best
Climber