SEATTLE, March 1, 2018 /PRNewswire/ -- WMIH Corp.
(NASDAQ: WMIH) ("WMIH") received written notification
from the Listing Qualifications Department of The Nasdaq Stock
Market LLC ("Nasdaq") that WMIH has regained
compliance with Nasdaq Listing Rule 5550(a)(2) as a result of the
closing bid price of the WMIH's common stock, par value
$0.00001 per share, being greater
than $1.00 per share for ten
consecutive business days as of February 28,
2018.
As previously reported, WMIH received written notification on
November 14, 2017 from Nasdaq
regarding its non-compliance with the minimum bid price
requirements set forth in Nasdaq Listing Rule 5550(a)(2). WMIH was
afforded 180 calendar days, or until May 14,
2018, to regain compliance with Nasdaq Listing Rule
5550(a)(2). As a result of WMIH regaining compliance with the
minimum bid price as of February 28,
2018, Nasdaq has informed WMIH that this matter is now
resolved.
About WMIH Corp.
WMIH Corp.'s (NASDAQ: WMIH), formerly known as Washington
Mutual, Inc., operations consist primarily of WM Mortgage
Reinsurance Company, Inc. ("WMMRC"), a wholly owned subsidiary of
the Company that is domiciled in Hawaii. The Company's primary business is a
legacy reinsurance business that is currently operated in runoff
mode by WMMRC. Additional information regarding WMIH may be found
at www.wmih-corp.com.
Company Contact:
Helen Grayson
206-922-2957
IMPORTANT ADDITIONAL INFORMATION AND WHERE TO FIND IT
This communication may be deemed to be made in respect of the
proposed merger transaction involving WMIH and Nationstar Mortgage
Holdings Inc., a Delaware
corporation ("Nationstar"). WMIH intends to file a
registration statement on Form S-4 with the SEC, which will include
a joint proxy statement of WMIH and Nationstar and a prospectus of
WMIH, and each party will file other documents regarding the
proposed transaction with the SEC. Any definitive proxy
statement(s)/prospectus(es) will also be sent to the stockholders
of WMIH and/or Nationstar, as applicable, seeking any required
stockholder approval. This communication does not constitute an
offer to sell or the solicitation of an offer to buy any securities
or a solicitation of any vote or approval. Before making any voting
or investment decision, investors and security holders of WMIH and
Nationstar are urged to carefully read the entire registration
statement(s) and proxy statement(s)/prospectus(es), when they
become available, and any other relevant documents filed with the
SEC, as well as any amendments or supplements to these documents,
because they will contain important information about the proposed
transaction. The documents filed by WMIH and Nationstar with the
SEC may be obtained free of charge at the SEC's website at
www.sec.gov. In addition, the documents filed by WMIH may be
obtained free of charge from WMIH at www.wmih-corp.com, and the
documents filed by Nationstar may be obtained free of charge from
Nationstar at www.nationstarholdings.com. Alternatively, these
documents, when available, can be obtained free of charge from WMIH
upon written request to WMIH Corp., 800 Fifth Avenue, Suite 4100,
Seattle, Washington 98104, Attn:
Secretary, or by calling (206) 922-2957, or from Nationstar upon
written request to Nationstar Mortgage Holdings Inc., 8950 Cypress
Waters Blvd, Dallas, TX 75019,
Attention: Corporate Secretary, or by calling (469) 549-2000.
WMIH and Nationstar and certain of their respective directors
and executive officers may be deemed to be participants in the
solicitation of proxies from the shareholders of WMIH and/or
Nationstar, as applicable, in favor of the approval of the merger.
Information regarding WMIH's directors and executive officers is
contained in WMIH's Annual Report on Form 10-K for the year ended
December 31, 2016, its Quarterly
Report on Form 10-Q for the quarterly periods ended March 31, 2017, June 30,
2017 and September 30, 2017
and its Proxy Statement on Schedule 14A, dated April 18, 2017, which are filed with the SEC.
Information regarding Nationstar's directors and executive officers
is contained in Nationstar's Annual Report on Form 10-K for the
year ended December 31, 2016, its
Quarterly Report on Form 10-Q for the quarterly periods ended
March 31, 2017, June 30, 2017 and September 30, 2017, and its Proxy Statement on
Schedule 14A, dated April 11, 2017,
which are filed with the SEC. Additional information regarding the
interests of those participants and other persons who may be deemed
participants in the transaction may be obtained by reading the
registration statement(s) and the proxy statement(s)/prospectus(es)
and other relevant documents filed with the SEC when they become
available. Free copies of these documents may be obtained as
described in the preceding paragraph.
FORWARD-LOOKING STATEMENTS
This communication contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
including, but not limited to, WMIH's and Nationstar's expectations
or predictions of future financial or business performance or
conditions. All statements other than statements of historical or
current fact included in this communication that address
activities, events, conditions or developments that we expect,
believe or anticipate will or may occur in the future are
forward-looking statements. Forward-looking statements give our
current expectations and projections relating to our financial
condition, results of operations, plans, objectives, future
performance and business and these statements are not guarantees of
future performance. Forward-looking statements may include the
words "anticipate," "estimate," "expect," "project," "intend,"
"plan," "believe," "strategy," "future," "opportunity," "may,"
"should," "will," "would," "will be," "will continue," "will likely
result," and similar expressions. Such forward-looking statements
involve risks and uncertainties that may cause actual events,
results or performance to differ materially from those indicated by
such statements. Certain of these risks are identified and
discussed in WMIH's Form 10-K for the year ended December 31, 2016 under Risk Factors in Part I,
Item 1A and Nationstar's Form 10-K for the year ended December 31, 2016 under Risk Factors in Part I,
Item 1A. These risk factors will be important to consider in
determining future results and should be reviewed in their
entirety. These forward-looking statements are expressed in good
faith, and WMIH and Nationstar believe there is a reasonable basis
for them. However, there can be no assurance that the events,
results or trends identified in these forward-looking statements
will occur or be achieved. Forward-looking statements speak only as
of the date they are made, and neither WMIH nor Nationstar is under
any obligation, and expressly disclaim any obligation, to update,
alter or otherwise revise any forward-looking statement, except as
required by law. Readers should carefully review the statements set
forth in the reports, which WMIH and Nationstar have filed or will
file from time to time with the SEC.
In addition to factors previously disclosed in WMIH's and
Nationstar's reports filed with the SEC and those identified
elsewhere in this communication, the following factors, among
others, could cause actual results to differ materially from
forward-looking statements or historical performance: ability to
meet the closing conditions to the merger, including approval by
shareholders of WMIH and Nationstar on the expected terms and
schedule and the risk that regulatory approvals required for the
merger are not obtained or are obtained subject to conditions that
are not anticipated; delay in closing the merger; failure to
realize the benefits expected from the proposed transaction; the
effects of pending and future legislation; risks associated with
investing in mortgage loans and mortgage servicing
rights and changes in interest rates; risks related to
disruption of management time from ongoing business operations due
to the proposed transaction; business disruption following the
transaction; macroeconomic factors beyond WMIH's or Nationstar's
control; risks related to WMIH's or Nationstar's indebtedness and
other consequences associated with mergers, acquisitions and
divestitures and legislative and regulatory actions and
reforms.
Annualized, pro forma, projected and estimated numbers are used
for illustrative purpose only, are not forecasts and may not
reflect actual results.
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SOURCE WMIH Corp.