SEATTLE, Aug. 21, 2017 /PRNewswire/ -- WMIH Corp. (Nasdaq:
WMIH) (the "Company"), today announced that the Finance Committee
of the Company's Board of Directors has retained Keefe, Bruyette
& Woods to provide certain financial advisory services in
connection with the Finance Committee's mandate to review the
Company's capital structure and potential financing
alternatives.
Steve Scheiwe, Chairman of the
Company's Board and the Finance Committee, stated "We remain
committed to consummating an accretive acquisition transaction and
to delivering value to our stockholders. However, we are
mindful that the Company's Series B Convertible Preferred Stock is
redeemable on January 5, 2018 if we
have not consummated, or executed a definitive agreement to
consummate, a qualified acquisition prior to that date.
Accordingly, we formed the Finance Committee, comprised solely of
independent directors, to explore potential financing and
refinancing alternatives, including the potential restructuring or
refinancing of the Series B Preferred Stock."
There can be no assurance that any transaction, including a
refinancing of the Series B Preferred Stock, will occur or if so on
what terms. There is no set timetable for the Finance
Committee's review, and the Company does not intend to provide
updates unless or until it determines that further disclosure is
appropriate or necessary.
This press release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995, Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934, as amended. All statements
other than statements of historical fact included in this press
release 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. These statements can be
identified by the fact that they do not relate strictly to
historical or current facts. 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. Some of these risks are identified and discussed
under "Risk Factors" in the Company's most recent Annual Report on
Form 10-K and any subsequent Quarterly Reports on Form 10-Q or
Current Report on Form 8-K. 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 we 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 we do not undertake to update any
forward-looking statement, except as required by law.
Contact:
Helen Grayson
206-922-2957
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SOURCE WMIH Corp.