DIP

Takeoff Technologies Continues Robust Marketing and Sale Process as it Files Voluntary Proceedings Under Chapter 11 Protection

Retrieved on: 
목요일, 5월 30, 2024
Online Retail, Retail, Technology, Software, Electronic Commerce, Networks, Wind, DIP, Sale, Marketing, Bankruptcy, Court, Huron Consulting Group, United States bankruptcy court, Security (finance)

Through the chapter 11 process, Takeoff intends to complete a marketing process to solicit interest in one or more sales of some or all of its assets.

Key Points: 
  • Through the chapter 11 process, Takeoff intends to complete a marketing process to solicit interest in one or more sales of some or all of its assets.
  • This financing is expected to enable remaining operations to continue in the ordinary course through the marketing and sale process.
  • Takeoff intends to implement an orderly wind down of any assets that are not acquired through the sale process.
  • We extend our deepest gratitude to our employees, customers, partners, and the communities we serve.”
    Additional information regarding the Company’s chapter 11 process is available at https://case.ra.kroll.com/takeoff .

IntelGenx Obtains Court-Approval of a Sale and Investment Solicitation Process

Retrieved on: 
화요일, 5월 28, 2024
CCAA, News, DIP, Sale, Superior court, TSX, Monitor

On May 27, 2024, IntelGenx obtained an order from the Court (the “SISP Approval Order”) approving the implementation of a sale and investment solicitation process intended to generate interest in either the business or the assets of IntelGenx, or in a recapitalization of IntelGenx, with the goal of implementing one or more transaction(s) (the “SISP”).

Key Points: 
  • On May 27, 2024, IntelGenx obtained an order from the Court (the “SISP Approval Order”) approving the implementation of a sale and investment solicitation process intended to generate interest in either the business or the assets of IntelGenx, or in a recapitalization of IntelGenx, with the goal of implementing one or more transaction(s) (the “SISP”).
  • The SISP Approval Order provides that the SISP will be conducted by the Monitor.
  • The SISP will be conducted as a two-phase process with the Phase 1 Non-Binding LOI Submission Deadline set for 5:00 p.m. (Montréal Time) on July 15, 2024.
  • Copies of the order approving the SISP and the SISP procedures may be obtained from the Monitor’s website: www.ey.com/ca/intelgenx .

IntelGenx Initiates Restructuring Proceedings Under the CCAA to Implement a Review of its Strategic Alternatives

Retrieved on: 
금요일, 5월 17, 2024
Toronto Stock Exchange, CCAA, News, Exercise, DIP, Sale, Research, Court, Superior court, TSX, Monitor

The protection afforded by the CCAA is intended to provide the Company with the time and breathing room necessary to implement a strategic review process under the oversight of the Board of Directors and with the advice of IntelGenx’s professional advisors.

Key Points: 
  • The protection afforded by the CCAA is intended to provide the Company with the time and breathing room necessary to implement a strategic review process under the oversight of the Board of Directors and with the advice of IntelGenx’s professional advisors.
  • The Initial Order provides a stay of creditor claims and exercise of contractual rights with a view to provide the Company some breathing room to implement its strategic review process.
  • The Court has appointed Ernst & Young Inc. to serve as Monitor in the CCAA proceedings and to assist the Company with its restructuring efforts and report to the Court during the restructuring.
  • The Initial Order authorizes interim debtor-in-possession financing (DIP) financing in order to allow the Company to continue its operations during the restructuring process and implement the necessary restructuring measures.

IntelGenx Initiates Restructuring Proceedings Under the CCAA to Implement a Review of its Strategic Alternatives

Retrieved on: 
금요일, 5월 17, 2024
Toronto Stock Exchange, CCAA, Exercise, DIP, Sale, Court, Superior court, TSX, Security (finance)

After a careful review of all available alternatives and following thorough consultation with its legal and financial advisors, the Company’s Board of Directors determined that it was in the best interest of IntelGenx and its stakeholders to file an application for creditor protection under the CCAA.

Key Points: 
  • After a careful review of all available alternatives and following thorough consultation with its legal and financial advisors, the Company’s Board of Directors determined that it was in the best interest of IntelGenx and its stakeholders to file an application for creditor protection under the CCAA.
  • The protection afforded by the CCAA is intended to provide the Company with the time and breathing room necessary to implement a strategic review process under the oversight of the Board of Directors and with the advice of IntelGenx’s professional advisors.
  • The initial Court order sought is expected to include a stay of creditor claims and exercise of contractual rights with a view to provide the Company some breathing room to implement its strategic review process.
  • It is also expected to authorize interim debtor-in-possession (DIP) financing in order to allow the Company to continue its operations during the restructuring process and implement the necessary restructuring measures.

Get Ready for a Flavour-Filled Adventure with Summer Fresh®'s Pop-Up Store in Downtown Toronto

Retrieved on: 
금요일, 5월 10, 2024
Heart, Taste, Bathurst Street, DIP, Food industry, Mother's Day, Summer

You are welcomed to discover Summer Fresh®'s inside scoop, a world of delicious hummus and dip flavours meticulously crafted to ignite your tastebuds.

Key Points: 
  • You are welcomed to discover Summer Fresh®'s inside scoop, a world of delicious hummus and dip flavours meticulously crafted to ignite your tastebuds.
  • The Summer Fresh® Pop-up store aims to create an exciting atmosphere, where each visit promises a delightful culinary adventure.
  • This upcoming Mother's Day and Victoria Day weekend, elevate your celebrations with a visit to Summer Fresh®'s pop-up store.
  • Join Summer Fresh® from May 10th to 20th, 2024, and enjoy a flavoured filled adventure with a category pioneer.

Medical Properties Trust, Inc. Reports First Quarter Results

Retrieved on: 
목요일, 5월 9, 2024
Health, Hospitals, Commercial Building & Real Estate, Construction & Property, General Health, REIT, International joint venture, Sale, International, Prospect, Hospital, CommonSpirit Health, Medical Properties Trust, Bed, Bankruptcy, MPT, Webcast, IRF, Growth, FFO, IMED, Regulation Fair Disclosure, Health system, Patient, DIP, Regulation, MPW, GOLD, Telephone, Disclosure

Medical Properties Trust, Inc. (the “Company” or “MPT”) (NYSE: MPW) today announced financial and operating results for the first quarter ended March 31, 2024, as well as certain events occurring subsequent to quarter end.

Key Points: 
  • Medical Properties Trust, Inc. (the “Company” or “MPT”) (NYSE: MPW) today announced financial and operating results for the first quarter ended March 31, 2024, as well as certain events occurring subsequent to quarter end.
  • Medical Properties Trust has total assets of approximately $17.4 billion, including $11.3 billion of general acute facilities, $2.4 billion of behavioral health facilities and $1.7 billion of post-acute facilities.
  • During the first quarter of 2024, Prospect paid cash rent and interest of $7 million to MPT.
  • The Company has scheduled a conference call and webcast for May 9, 2024 at 11:00 a.m. Eastern Time to present the Company’s financial and operating results for the quarter ended March 31, 2024.

EQS-News: HOWOGE Wohnungsbaugesellschaft mbH: positive operating result with continued strategic growth

Retrieved on: 
금요일, 5월 3, 2024
AMERICA, OPEX, Person, LTV, Tenant, Housing, School, Public housing, EUR, FFO, EBIDTA, PRIMA, DIP, Bank statement, CO2, Capital expenditure, Growth

As HOWOGE managing director Ulrich Schiller explains, “Despite difficult conditions, HOWOGE completed the year successfully.

Key Points: 
  • As HOWOGE managing director Ulrich Schiller explains, “Despite difficult conditions, HOWOGE completed the year successfully.
  • This makes it possible for us to continue to meet our social responsibilities.”
    Katharina Greis, HOWOGE managing director: “HOWOGE is in a sound financial position.
  • We have, for example, already ensured ahead of time the refinancing of the corporate bond that is due for repayment in November 2024.”
    HOWOGE posted a positive operating result for the financial year 2023.
  • For the financial year 2024 HOWOGE expects that market conditions will continue to stabilise and that its operating results will develop positively.

Shoes For Crews® Commences Financial Restructuring to Complete Sale Process and Continue Global Industry Leadership on Stronger Financial Foundation

Retrieved on: 
화요일, 4월 2, 2024
Office Products, Online Retail, Manufacturing, Travel, Cruise, Supermarket, Specialty, Food, Beverage, Retail, Textiles, Restaurant, Bar, Growth, International, Stalking, Sale, DIP, LLP, Berkeley Research Group, United States bankruptcy court, Bankruptcy, Shoe, Possessive, File, Ropes & Gray

The Company is commencing a court-supervised sale process to “market-check” the Stalking Horse APA and seeks the highest or otherwise best bid for its assets to maximize value for all stakeholders.

Key Points: 
  • The Company is commencing a court-supervised sale process to “market-check” the Stalking Horse APA and seeks the highest or otherwise best bid for its assets to maximize value for all stakeholders.
  • The Company is targeting the sale process to be completed in approximately two months.
  • Shoes For Crews has also filed standard “first day” motions in the Chapter 11 cases, seeking court approval to continue supporting its operations during the court-supervised sale process.
  • Additional information is available through the Company’s claims agent, Omni Agent Solutions, at https://omniagentsolutions.com/ShoesforCrews .

Airspan to Receive Up to $95 Million in New Equity Financing and Eliminate All Existing Funded Debt

Retrieved on: 
일요일, 3월 31, 2024
Technology, Mobile, Wireless, Software, 5G, Networks, Hardware, Agreement, Fortification, Partner (business rank), DIP, LLP, United States bankruptcy court, Bankruptcy, Fortress Investment Group, VRS, Telecommunications, MIMO, Hand, Dorsey & Whitney, Security (finance)

Our significant commitments through this Agreement reflect our conviction that a recapitalized Airspan can further solidify its leadership position within the wireless industry.

Key Points: 
  • Our significant commitments through this Agreement reflect our conviction that a recapitalized Airspan can further solidify its leadership position within the wireless industry.
  • Airspan will operate its business without disruption through this process, safeguarding its commitment to employees, customers, and suppliers.
  • The DIP financing is subject to Court approval and the satisfaction of specified closing conditions.
  • VRS Restructuring Services, LLC is serving as Airspan’s financial advisor and Intrepid Investment Bankers LLC is serving as Airspan’s investment banker.

CURO Group Holdings Corp. to Reduce Debt and Strengthen Financial Position Through Restructuring Support Agreement; Implements Prepackaged Restructuring Plan by Commencing Voluntary Chapter 11 Reorganization

Retrieved on: 
월요일, 3월 25, 2024
Banking, Fintech, Professional Services, Finance, Empyrean, RSA, Growth, Vinson & Elkins, Disclosure, Bankruptcy Code, DIP, LLP, Senior, United States bankruptcy court, Bankruptcy, Credit, Corporate action, OTC, File, Oaktree Capital Management, LP, Security (finance)

CURO also intends to file recognition proceedings in Canada under Part IV of the Companies’ Creditors Arrangement Act.

Key Points: 
  • CURO also intends to file recognition proceedings in Canada under Part IV of the Companies’ Creditors Arrangement Act.
  • CURO branches are open, operating as usual and continuing to serve customers in the U.S. and Canada.
  • (“Oaktree”), Caspian Capital LP, and Empyrean Capital Partners (the “Ad Hoc Group”) led negotiation of the RSA on behalf of creditors.
  • The DIP financing, which is subject to court approval, is expected to support the Company’s ongoing operations during the court-supervised process.