Shareholders holding about 84.6% of Nationstar Mortgage Holdings Inc.'s common shares either opted to receive or were deemed to have made an election to receive WMIH Corp. common shares as consideration for the pending merger between the two companies.
Nationstar shareholders were given the option to receive either $18.00 in cash or 12.7793 WMIH common shares, in each case subject to automatic proration and adjustment. Stockholders whose election materials were not received by the exchange agent by 5 p.m. ET on July 26 were deemed to have made an election to receive stock consideration.
Based on the preliminary results, holders of about 15.4% elected to receive cash consideration.
The two companies have already secured all regulatory approvals and expect to close the deal July 31.