Replies to post #354745 on Mr Cooper Group Inc (COOP)

[Lebosco]

Right, which is why I don't think there will be much dilution...but I don't know all the details. Hell the LTW didn't have them as equity either...yet here they sit as equity based on the Judges ruling...I'm just saying.

Back to lurking!

[gophilipgo]

Remains to be seen. Pari passu means treated equally; it doesn't necessarily mean 1:1. Using your logic of pari passu, WAMPQs and WAMKQs would be 1:1, and we know they are not because they have different provisions spelled out in their respective prospectuses. They are simply given equal treatment based on those prospectuses. So it would reason that the conversion for DIMEQ is based on the LTW agreement, which does not put a 1:1 ratio on the value of DIMEQ to WAMUQ. But I have been surprised many times before with regards to the judge's decisions, so I won't be surprised to be wrong here. However, if the DIMEQs are converted to WAMUQs based on the language in the LTW agreement, the WAMUQs will be diluted significantly.