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~ I've Been Explaining The "Rights Offering" Since 2015 ~
I have always attempted to explain to the people' ... simply how ALL of the ridiculous "financial models", claiming the use of ALL of the $600,000,000.00 in "Cash" held by CITI' (as the escrow agent), ... was irresponsible nonsense'
as well as how ALL of the ridiculous "financial models", claiming the use of 100% of the allocated 3.5 billion share count, ... was again irresponsible nonsense'
as well as ALL of the jibberish presented regarding the WMI-LT (propaganda machine), issuing "warrants" to the Owners of the Estate' ... and many, many, many other nonsensical statements, ... were simply incorrect' and misleading' ...
... The $600,000,000.00 provided for by the replacement KKR Credit Facility' was never earmarked to merge with ? or acquire ? a third party entity' ...
The contractual 01/05/2015 "Rights Offering" between WMI Holdings Corp and KKR, ... was First, ... a product of the mediation accomplished in late 2011' ... The original AAOC Credit Facility Provided at the Plan 7 Reorganization, was to be replaced' as reasonably soon as possible' ... (documented) ...
Next' ... The "Rights Offering" provided the new company with price per share protections' ... these pps protections were needed' due to the ongoing and incomplete D.C. Litigation
The $600,000,000.00 dollar figure was NOT chosen irresponsibly' ... This $600,000,000. was chosen as a direct relationship to the amount of common shares issued at the reorganization' 200,000,000 ... $600m / 200m shares, allowed for a pps control of roughly no more than $3.00 pps, ... with the low end, ... at ZERO' ...
... Again' ... with the replacement credit facility also came a pps controlling mechanism' ...
As I said, ALL of this is exclusive to the "Rights Offering" Itself, and the USE' of the actual $600 million in "Cash" issued' ... (now' roughly $575 million reported as of 09/30/2017')
Any Financial Forward Move by the now, ... Delaware reincorporated WMIH-Corp "other than" ... this specified B' Preferred Offering "Cash" held by CITI' ... is not included within the contractual arrangement' ...
Original Estate Returns and Issues ARE and ALWAYS Have Been' ... The Most Important' and Most Financially Beneficial to ALL' ...
WMI Investment Corp.
Washington Mutual, Inc.
The Trust Supported, WMI Preferred Offering
The 1031 Exchange
The 2001 - 2041 Trust Supported' WMI Issued 6036' Debt Offering
The WMI Original Trust Supported WMB Noteholder Program'
... and, much, much. much, ... more' ...
The "Settlements" (All of Them) are now thankfully' completed'
AZ