Mercer plans Chapter 11 restructuring
Business · First reported 3 Nov, 00:00 · Updated 09:55
Mercer International plans to seek Chapter 11 protection as part of a restructuring intended to reduce debt and raise $400 million in new money.
- Mercer International plans to file for Chapter 11 as part of a restructuring.
- The plan is intended to reduce the company’s debt by $1.1 billion and bring in $400 million in new funding.
- Seeking Alpha says the new funding would come through a rights offering.
Summary written by Lux AI from 2 articles
Key facts
- Company
- Mercer International Inc.
- Planned filing
- Chapter 11 bankruptcy
- Debt reduction
- $1.1 billion
- New funding
- $400 million
- Funding method
- Rights offering, according to Seeking Alpha
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Background
- An earlier Lux story reported that Karyopharm planned a court-supervised Chapter 11 restructuring and said it would continue operating and developing treatments during the process. [a8c2979e-573c-4357-95a2-a8fb6c40f079]
- That proposal named Ayrmid as lead bidder in a proposed merger and remained subject to court approval, competing bids and other conditions. [a8c2979e-573c-4357-95a2-a8fb6c40f079]
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Ownership
- Unknown 100% (2)
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