Replies to post #365104 on Mr Cooper Group Inc fka COOP

[WithCatz]

Monica -- it will take several days {I wouldn't be surprised if it's weeks} for NewCo stock to show up on your brokerage's ledger -- and it is unknown how it will be reflected by each brokerage.

Among the reasons include having to get final determination on how to convert the shares (the minutia of 75/25% vs. shares released in each class, etc, etc)

The bottom line is, "you {all} were warned" by the EC about this "dark" period. And the unknown length of it.

Freaking out now, and/or freaking out then, I don't really support.

It's been a well-known, well-disclosed fact for some time, that trading may not be possible -- and likely, until the bare minimum of filings occur -- be not tradable. There's a strong piece of me that wants it that way. I made my bets, and would rather not have the MM'ers screw with this more until we get a more stable "Reorganized WMI" ... and THEN start trading again.

...Catz

[radiumsoup]

Personally, I think we'll get a CUSIP early on, but will not be listed anywhere. There are tons of "private placement" securities that get a CUSIP but don't trade anywhere, so I don't see a reason not to have the same apply to us.

It would be difficult for E*Trade, Scottrade, and other discount brokers to figure out how to hold a security without a CUSIP number. So, in the interest of keeping shareholders... well, shareholders... a CUSIP number would be a very simple way to make it easy for brokers to show shareholders that they still own the stock in their portfolios, even if it's not tradable on a primary market and doesn't have a "market value" associated with it. (Rather like how the Contra-CUSIP shows up in most accounts right now for released shares.)

Getting a CUSIP number is relatively simple process, especially for a company that already has existing securities. (There was a post a few months back that suggested it could take as few as 5 days if everything lined up properly.) This is the form that can be used to request a CUSIP registration, just to show how little information is required: https://www.cusip.com/cusiprequest/corporateEquity.do

EDIT: just filled out the form as a test, the fee is $154, or $231 for "1 hr" service.