Arch Coal says the common shares will be cancelled
Investor FAQ from the company web site: www.archcoal.com/restructuring/pdfs/FINAL%20ACI%20Agreement%20-%20Chapter%2011%20Investor%20FAQ.pdf
1. What will happen to the Arch common stock that I own? Will I receive any compensation if the stock is cancelled?
Arch’s agreement with the majority of the company’s senior lenders provides that, upon the company’s emergence from Chapter 11, Arch’s existing stock will be cancelled and the senior lenders will receive the substantial majority of the new stock in the reorganized Arch Coal.
The plan that Arch Coal is submitting as part of the Chapter 11 process calls for the common shares to be cancelled.
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