Replies to post #119559 on Mr Cooper Group Inc fka COOP

[Jestiron]

In general, when the board talks about the TPG investment, we are talking about the $7bn as that was how TPG brought the funds into WMI. So when I/we refer to the increase from 1bn shares to 1.6bn shares I am (we are) referring to the TPG "package", if you will, NOT TPG (individual) as referenced on the SEC Form 4.

This is further covered in the introduction to the section that you quoted from the link I provided to you, which reads:

Answer: On April 7, 2008, the Company entered into (i) an Investment Agreement (the “Investment Agreement”) with affiliates of TPG Capital (the “TPG Investors”) and (ii) Securities Purchase Agreements (the “Securities Purchase Agreements”) with a number of institutional investors (the “Institutional Investors” and, together with the TPG Investors, the “Investors”) including certain of our largest shareholders.

Your calculations are correct from what I can see although you did not include the initial commons purchased at the same time as the preferred. I have also included the warrants for shares although I do not know for sure if they were paid.

Sooo....
TPG (The company) got:
1. 822,857 shares of common stock (dont forget these)
2. 19,928 shares of Series T Perpetual Preferred Stock (=19,928 x 11,429= 227,757,112 shares)
3. Warrants to acquire 57,142,857 additional shares of common stock

Investors under the agreement WITH TPG got:
1. 175,514,285 shares of common stock (dont forget these)
2. 36,642 shares of Series S Perpetual Preferred Stock (=36,642 X 11,429= 418,781,418)
3. Warrants to acquire 11,159,820 shares of common stock

TOTAL COMMONS:
After conversion and including warants and initial common purchase:
822,875,672 shares at a cost of +/-$7,200,162,130

Good Luck to you linda1