Replies to post #343929 on Mr Cooper Group Inc fka COOP

[UncleBo]

Catz, I mostly agree with you and would like to offer some numbers from the judge's opinion.

She valued the New Co @ 210 million, how ?

First she said, it is the existing run off business @140 million
Second is the NOLs if utilized in a run off mode only @ 20 million
Third and last the NOLs which would come on top of the second valuation slice considering debt financing, acquisitions, that comes @ 50 million

So there you have it 140 + 20 + 50 = 210

Now, fast backwords to May 24th and Rosie running his mouth (as usual) explaining the guts of POR7, something along the lines of 160 million of equity for the benefit of the common and preferred shareholders and 160 million of debt (or hybrid security) to be held by the SNs.

I would go ahead and speculate that based on what we know may be POR 7 which we would see would be 210 million of equity and 210 million in debt financing for a total valuation of the debtor of 420 million.

What I cannot speculate on is how much would the commons get as a percentage of the new equity, where does M.W. stand on this, are the SNs going to get all 210 million in debt financing and what would be the profit cap of this hybrid (or convertivle security if you wish) - that is in Parker's briefcase which he took on vacation and oh yes, what happens to the PIERS?

Uncle Bo

[Nightdaytrader]

Catz, thanks for your thoughts. Do you have any thoughts on preferreds also getting some cash from possibly hedge funds (IT violations) or jpm/fdic (tax refund for releases)??

Thanks
Nd9

[clawmann]

Catz: one additional point. I believe it should be said that once the judge ruled that TPS was to be treated as prefs (law of the case and all that), the EC - which represents equity generally - essentially became the official representatives of TPS, with - as you pointed out the ability to negotiate a finalize a deal even if TPS doesn't like it.