España
http://online.wsj.com/articles/bank-of-america-near-16-billion-to-17-billion-settlement-1407355290
La FDIC pronto tendrá el dinero para recompensar el fiasco de WAMU.
La FDIC es la parte responsable de indemnificar a JPM en indemnity claims hasta el 25 septiembre 2014. Es de lógica que la FDIC quiera remover esta clausula lo antes posible. A no ser que JPM tenga algo muy grave contra la FDIC esa fecha no se extenderá.
Seguimos avanzando con los claims y cuando terminen veremos que hay en la Caja de Pandora de WAMU por lo que tanto lucharon durante la BK los SNH y cuyo acuerdo final fue repartición 75% preferentes y 25% comunes tras el pago a las clases superiores.
http://biz.yahoo.com/e/140808/wmih10-q.html
Ingresos netos por los 3 meses que terminan el 30 Junio 2014 total $17.3 millones comparados con
una perdida neta de $2.5 millones por el mismo periodo en 2013...
:) :) :)
Quoted with permission from abc123 in BP: It's nice to see a 9 cent a share in earnings, but note the 7 cents a share earnings diluted by ---> 243,587,216 shares issued <---. Its like KKR is already tendering their warrants. They cannot tender their warrants unless the money was borrowed and the money would not be borrowed unless a deal was happening.
The 9 cent earnings should perk up share prices on Monday. I thought they would not revise the "Loss contract reserve fair market value change" until year's end. By updating it now it gave a significant reduction in liabilities and therefore became earnings. By taking the earnings now, it pushes up the company's financials which should push up share prices and market value making a deal easier to close.
Ultimately the "Loss contract fair market value reserve" will become $0. Its at $16M now. That $16M reserve will help pay down ongoing interest expense on the RONs since premium earnings are continuously declining.
WMMRC did make $151K for the month. Note how it is worth $56M (shareholder equity - WMIH). There are $2.9M and $26.5M of RONs against WMMRC. So WMMRC is worth about $26.6M. Plus there is $78.5M that our original $75M has grown into. So WMIH is worth about $105.1M right now before any NOL usage or including the pittance KKR kicked in to take away 26% of the company.
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:) :) :)
WAHUQ ya está liquidado en un 65% así que en cuanto paguen el 35% restante el resto que haya de activos será liquidado un 75% para Preferentes y un 25% para comunes via Escrows.
Try the SEC website by searching "WMI Holdings" after clicking the "Search EDGAR for Company Filings" blue button on the right vertical banner. Here is a direct link:
http://www.sec.gov/Archives/edgar/data/933136/000119312514303111/d749277d10q.htm
Note the line entry on page 4 and again on page 27.
Shares used in computing diluted net income (loss) per share 243,587,216
In the last 10-Q they reported "Shares used in computing basic and diluted net (loss) per share 200,474,070". The only way to reach the 243M share total is to add in the initial float, all BOD gifted shares, KKR preferred to common conversion, and KKR Tranche A Warrants. If they included Tranche B then the total should be 274M shares. So why include trache A but not tranche B. Unless tranche A has been exercised in some manner? If tranche A has been exercised then it means the $150M PIK Notes have been issued or will be issued because trache A and B are not available until the notes occur. Since the 243M was mentioned twice it appears to be more than just a typo. So why did WMIH not choose to stick with the the 200.4M number they have been using for a while now? If they were going to report all possible dilution then why not report 274M shares?
Either the person who did the report has A) no idea of what the company structure is or B) had to report the 243M shares because something has happened.
Given that it took 7 months for WMIH to tell us about KKR I'm going with B.
WMIH 243.587.216 acciones
Info: WMIH's 10-Q:
"Shares used in computing diluted net income (loss) per share: 243.587.216 shares."
Ver paginas 4 y 27.
1) WMIH acciones iniciales: 200 Millones
2) Acciones para Equipo Directivo: 3.3 Millones
3) KKR Preferentes: 9.6 Millones
4) KKR Warrants Primer Tramo: 30.7 Millones
5) KKR Warrants Segundo Tramo:30.7 Millones
1+2+3+4= 243.6 Millones acciones.
Parece que KKR ha ejercitado el primer tramo de sus Warrants. Ellos solo lo pueden obtener si WMIH recibe su prestamo de $150 Millones en PIK. Si WMIH lo obtiene es debido a que la primera M&A está en proceso... :) :) :)
Si KKR ejecuta los 30.7 Millones acciones que faltan en el tercer trimestre entonces WMIH anunciará las Preferentes.
1st PART WARRANT PRICE = $1.32 per share
Share-wise: (9.6 MM + 30.7 MM) / 243.587216 MM shares = 16.544%
Dollar-wise: 10.55+ 40.524 = $51.074 MM
So if KKR exhausts her 2nd part of the warrant in Q3, then
2nd PART WARRANT PRICE = $1.43 per share
Share-wise: (9.6 MM + 30.7 MM + 30.7 MM) / 274.2726 MM shares = 25.89%
Dollar-wise: 10.55+ 40.524 + 43.901 = $94.691 MM
What is left is that KKR will be permitted to participate the coming right offering of WMIH for not exceeding $1 BB or 50% of the offering size, under the condition of its grand total equity holding not over 42.5%.
Y estas noticias influyen algo en los scrows de las WAMPK?
gracias