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Omega's Cooperman discloses stake in Ditech Holding

Leon Cooperman beneficially owns 3,738,676 Ditech Holding Corp. common shares, which constitutes approximately 48.69% of the company's total common shares outstanding.

Omega Capital Partners LP, Omega Capital Investors LP, Omega Equity Investors LP, Omega Overseas Partners Ltd. and Omega Credit Opportunities Master Fund LP are part of a registration rights agreement that Walter Investment Management Corp. entered into pursuant to its restructuring plan. Walter Investment Management emerged from Chapter 11 bankruptcy under the name Ditech Holding.

Under the registration rights agreement, the Omega companies received Ditech Holding common shares, series A warrants, series B warrants and mandatorily convertible preferred shares. As the ultimate controlling person of the Omega companies, Cooperman may be deemed the beneficial owner of the 3,738,676 Ditech Holding common shares, which includes 312,901 common shares; 2,996,019 common shares issuable upon conversion of the mandatorily convertible preferred shares; 239,622 common shares issuable upon exercise of the series A warrants; and 190,134 common shares issuable upon exercise of the series B warrants.

Cooperman is the managing member of Omega Associates LLC, a private investment firm formed to invest in and act as general partner of investment partnerships or similar investment vehicles. Omega Associates is the general partner of Omega Capital Partners, Omega Capital Investors, Omega Equity Investors and Omega Credit Opportunities Master Fund.

Cooperman is also the president, CEO and sole shareholder of Omega Advisors Inc., which serves as investment manager to Omega Overseas Partners.