Replies to post #356886 on Mr Cooper Group Inc fka COOP

[EXDIMER]

This is a material risk documented in the latest DS, acknowledged in the DS hearing and reflected in the current PPS. There can be disagreement about the probability of a change but the reality of the potential risk is a simple FACT.

[marayatano]

I concur 100%. To ignore the facts and brush off risk is foolish. We all stay informed because issues are brought up and discussed so we all can make better informed decisions and lessen our risk in the market.

... in the end, no matter what, the majority will keep their "rose colored" classes on...

Example: No offense to DIMEq board, but if you didn't believe that Dimeq was Class 12, no one cared for your input if you had a different view. Most ignored the risk and had eyes solely set on Class 12. When the WAMUQ board spoke about DIMEq, they said it was Class 12 also, ONLY because DIMEq effects Commons' distribution/dilution and being in Class 12 meant WAMUQ would have gotten the entire proposed 30% rather than sharing with DIMEq. Had it been a straight waterfall scenario, WAMUQ board would have welcomed DIMEq to be diluted with WAMUQ if it meant DIMEq would not put $337 million ahead of WAMUQ.

No one (or few) on the WAMUQ board wants to listen to the POSSIBILITIES or different SCENARIOS, ie 70/30 split, etc., yet, people who will be nameless, were so pro-commons "baught" prefferds.

Some only want to see what they want to see to benefit their position and make themselves feel better.


There are a few exceptions that were open minded.


imo

[wamuvoodoo]

catz i see you still continue to try ..it's not working nomore ..the judge laughed at the apr today ...also rem. it takes 1 impaired class to vote yes ,and yes the u's are impaired ,unlike what you have preached

[coolhandken]

I think you guys are missing the boat here. This Apr isn’t about preferred vs. commons. It might have some effect but not as much as some posters have been campaigning. I think and the judge touched upon it today is it’s about class 18. They are being crammed down for the benefit of equity (preferred and common.) If Apr is followed class 18 is made whole then we get almost nothing. But according to Rosen today he thinks he has enough votes to pass.
Imo

[es1]

Catz I like to try to deal with things the way they are and not what might be. Could your correct me if my assumptions are wrong. As it stands right now:

There will be 200M shares in the new com.

5% (10M) is being set aside in case the SNH want them.
If they want them they have to pay the estate for them
If they opt out the shares are divided according to the 70/30 split

The remaining shares (190M) are split 70% (133M) to the preferred
30%(57M) to the commons

the 57M common shares are being split 8.77% (4.99M) to DIMEQ
and the remaining(52M) are commons.

1.7 existing commons=52M new co shares so 32.69:1 conversion
existing PPS .05 so conversion says new co shares are worth $1.63

This is a market cap of 326M for the New co.

This seems high to me.

Could you give me your idea of the new co market cap and maybe break down how DIMEQ is being paid. It seems like the DIMEQs PPS is also saying our market cap is over 350M if I understand right.

TIA