all is the same as I can see but the wait goes on.
I do not like to see july 5 th mentioned We need this deal finished as soon as possible I get the impression that WMIH does not have 100% confidence in KKR?? I personally believe we have a deal that is agreed to and will be executed soon.
this is ex date when do they have to pay it. If the convert to stock before then they do not pay the dividend
all this sounds good but I have doubts so if JPM and FDIC would give us 3-4 billion now, we should settle fast otherwise we will all be dead when and if this comes to pass
My understanding is that if you do not increase ownership until 2 years then the NOLs have their useful life extended until 20 years. The 3 year is also important as you can now increase the ownership I think 100# every two years??
If you did not give releases, you have the right to pay a lawyer and sue people. But the cost is of course not worth while. Most of us gave re
releases as that was what we were told to do by Sussman
We have Blakestone advising us so that KKR can not hold all the good cards. I suspect that WMIH will be issuing 10 year bonds and that the people who are buying the bonds were told to pick up some shares at $2.15-$2.25 and they will make money. I expect announcement of the deal approximately Feb 10 as they need at least 30 days to average the stock and they will close in March 15 to comply with NOL laws. As we get closer to the deal stock will rise to 2.50-3.00 but the average price will be maybe the full 2.25 and we will get the full dollar for our money .Everryone will make out as if WMIH can borrow a lot cheap and use leverage the NOL:value will not be 2 billion but will be 2 billion plus extra billions from owning a really good stock. $20.00 can be also in the cards within 123 months $4.50 $5.00 immediately will be the price after deal is announced
The Initial Conversion Price and the Floor Price will be subject to customary anti-dilution adjustments for stock splits, stock recombination, or tender or exchange offers for the Common Stock by the Company or its subsidiaries. In addition to the shares of the Common Stock issuable upon mandatory conversion, holders of the Series B Preferred Stock will have the right to receive on each Mandatory Conversion Date in cash any accrued and unpaid dividends on the shares of the Series B Preferred Stock to be converted on such Mandatory Conversion Date as of such Mandatory Conversion Date, whether or not declared (other than previously declared dividends payable to holders of record as of a prior date), to the extent the Company is legally permitted to pay such dividends at such time. To the extent that such dividends cannot be legally paid at such time, the amount of such dividends that cannot be so paid shall be added to the $1,000 per share liquidation preference of the Series B Preferred Stock in the calculation of the number of the shares of Common Stock to be received in each mandatory conversion (it being understood that no fractional shares of Common Stock shall be issued and there shall be no payment with regard to fractional shares); provided, however, that in the event the receipt of additional shares of Common Stock in lieu of such dividends would cause such holder to become a Substantial Holder, then pursuant to Article VI of the Articles the number of additional shares of Common Stock received in lieu of such dividends shall be reduced to the extent necessary such that upon receipt of such shares such holder would not become a Substantial Holder (resulting in such holder receiving less than the full value of the dividends it was otherwise entitled to receive). In connection with the foregoing proviso, purchasers of the Series B Preferred Stock that engage in activities related to the Company's stock, such as acquiring additional shares of the Company's Common Stock in the public market, may adversely affect their ability to receive additional shares of the Company's Common Stock in lieu of cash dividends upon a mandatory conversion.
"Acquisition" means any acquisition by the Company or any of its direct or indirect wholly-owned subsidiaries, in a single transaction or a series of transactions, whether by purchase, merger or otherwise, of all or substantially all of the assets of, all the equity interests in, or a business line, unit or division of, any person. "Qualified Acquisition" means an Acquisition that, taken together with prior Acquisitions (if any), collectively utilizes aggregate net proceeds of the Offering of $450 million. This mandatory conversion right is the only conversion right of holders of the Series B Preferred Stock. In the event the Company does not consummate an Acquisition prior to the Mandatory Redemption Date (as defined below), there will be no conversion of the Series B Preferred Stock into the Common Stock. Holders will not have an optional right to convert their shares of Series B Preferred Stock into the Common Stock.
this is because they were sued when they bought KFN. Now no one can sue that they used influence against wmih to get a lower prices. Anyone can buy for less so they over paid,they are good people.
is better than not having KKR . Also if KKR pays 2.00 for our stock, I would think that they would not be willing to waste their time with us if they did not hope to see at least $6.00- $7.00 Anyway today we are 2.20 and I expect soon we will be over $4.00 at least.
The 2 million share block was withdrawn, This could mean one of two things. 1. maybe they wanted people to sell and they scared people into selling below 2.20 or 2. they will have notified potential buyers of this block being available and therefore , later someone will buy it. Usually blocks are not shown to the retail investors. I expect the block to trade at 2.20 later in the day and stock will close higher, time will tell