Jun. 11 at 11:06 PM
$FLYYQ I was wrong. As the 65% stake parent company has to remain intact.. Unlike when KKR bought 24% of WaMu's old Bank Holdco (WMIH) and WMIH was the shell that is actually until Oct 2025 MR. Cooper Group's majority owner (NOLs require no change in ownership).
$COOP was the same company after that merger as WaMu's bank holding company from the 2008 GFC. Thus
$FLYYQ holders never spend one night canceled waiting for a new CUSIP. The 65% majority owners of the clean shell with the NOLs from Spirit Airlines Inc. and later the LLC making them part of CH 22 and the parent co
$FLYYQ 65% stake the 7 major financial institutions own have the leverage w/
$2.5B carryforward - IRS allows them to keep the NOLs so long as in 10-12 weeks after this quick CH 11 bidding/paying off not even 400M in creditor claims since so much overlap exists. In short - this is the single best situation for anyone who is holding their shares (28.4M - every retail has dumped). Target for merger = high rev high taxes
