Lightstream, with support of an ad hoc committee representing a majority of its secured noteholders, has announced a recapitalization proposal which would eliminate the Company’s notes in exchange for equity. If successful, current shareholders would hold 2.25% of the recapitalized entity. If the proposal is unsuccessful, there would be an attempt to satisfy the Company’s obligations through an asset sale, which would leave minimal residual equity value. With continuing uncertaint
14 Jul 2016
Proposed Recapitalization Transaction
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Proposed Recapitalization Transaction
- Published:
14 Jul 2016 -
Author:
Cody R. Kwong -
Pages:
4
Lightstream, with support of an ad hoc committee representing a majority of its secured noteholders, has announced a recapitalization proposal which would eliminate the Company’s notes in exchange for equity. If successful, current shareholders would hold 2.25% of the recapitalized entity. If the proposal is unsuccessful, there would be an attempt to satisfy the Company’s obligations through an asset sale, which would leave minimal residual equity value. With continuing uncertaint