Replies to post #396511 on Mr Cooper Group Inc fka COOP

[kuwlness]

Big stuff in that 10-K, WOW, i'm still reading through and taking notes/digesting all this. But this is intense! No wonder the big rush to buy eod today.


Blue-Foxx will love this part (SPAC/SPAV):
"However, because we are pursuing an acquisition strategy" -- I think this is the ideal route to go.


More on the NOLs:
As of December 31, 2012, WMIHC and its subsidiaries had United States federal NOLs of approximately $7.54 billion, of which approximately $5.97 billion was allocated to that portion of 2012 after the ownership change described in this Annual Report on Form 10-K that, if unused, will begin to expire in 2029.


[continuing reading, will post more soon]

MONDAY GAPPER!!
Weeeeeeeeeeeeeeeeeeeeeeeeeeee

[fsshon]

The restrictive covenants in the credit facility and the Note Purchase Agreement are subject to a number of important qualifications, exceptions and limitations. This means that the restrictions are not absolute prohibitions. WMIHC and its subsidiaries may be able to engage in some of the restricted activities, such as incurring additional debt, paying dividends, making investments, selling assets and entering into mergers or other

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business combinations, in limited amounts or in certain circumstances, notwithstanding the restrictive covenants. These actions could adversely affect our financial condition and the value of WMIHC.

Ok that's a nice disclosure. KKR wants an Observer in the Board Room and a seat on the board. I would if I signed for up to 1B investment over 3 years. Remember in LBO's you never use your firms money. You use Security Certificates (equity, preferred etc) Notes and of course OPM.(Other People's Money). Now as we move on our Acquisition Strategy there will be incidences of violation of the Note Purchase Agreement (NPA) in which through the Board Member and Observer for KKR will need to be waived. If the acquisition is a good one, the pen will be used. KKR on board to make money. Wiill waive provisions for capital raise.