Loading...
Loading...
Eastman Kodak Company
EKDKQ announced today that Judge Allan L. Gropper of the U.S. Bankruptcy Court for the Southern District of New York entered a final order approving the Company's debtor-in-possession financing for $950 million between Kodak and its lenders and second-lien bondholders.
Antonio M. Perez, Chairman and Chief Executive Officer, stated: “Today's agreement is another step towards ensuring that Kodak is positioned to execute on the goals the Company set out last month: Bolster our liquidity in the U.S. and abroad, monetize our non-strategic intellectual property, fairly resolve legacy liabilities, and enable Kodak to focus on its most valuable business lines.”
Kodak and its U.S. subsidiaries filed to reorganize its U.S. business under Chapter 11 on Jan. 19. Non-U.S. subsidiaries were not part of the filing. The $950 million includes the initial $650 million approved as part of the First Day Motions, as well an additional $300 million in incremental availability.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in