WMIH Corp. (WMIH) Secures Necessary Capital to Pursue Acquisition-Based Growth Strategy
WMIH Corp. (OTCQB: WMIH), through its wholly-owned subsidiary, WM Mortgage Reinsurance Company, Inc., currently engages in runoff mode reinsurance business with respect to mortgage insurance. In 2012, the company emerged from bankruptcy proceedings as the successor to Washington Mutual, Inc. with limited operations outside of its legacy reinsurance business, and, though it has not written any new business since 2008, WMIH still operates its subsidiary’s existing contracts while actively seeking acquisition opportunities across a broad array of industries. In January, WMIH secured the capital required to fund future acquisitions through the completion of a private offering of 600,000 shares of…