Orchids Paper Products Co. (fka TISUQ)

[Werbe]

Share Structure as of 3-31-19

Authorized Shares - 25,000,000

Outstanding Shares - 10,670,348

Market Cap - $812,013

52-Wk Range - 0.03 ~ 6.74

I see them surviving! Huge machine here already in place.

Walmart, Sams Club and Dollar Store as main customers of theirs. Net revs of $187 million last year. 481 fulltime employees!!

We own and operate two paper mills, a converting facility and a finished goods warehouse in Pryor, Oklahoma. Additionally, we own and operate a paper mill, a converting facility, warehouse facilities, and other supporting equipment in Barnwell, South Carolina. As a result of the Fabrica Transaction, we own papermaking and converting assets in Mexicali, Mexico, which are operated by Fabrica under a lease agreement (“Equipment Lease Agreement”).

BRENTWOOD, Tenn., April 1, 2019 /PRNewswire/ -- Orchids Paper Products Company (NYSE American: TIS) (the "Company"), a leading manufacturer and national supplier of high quality consumer tissue products, including paper towels, bathroom tissue and paper napkins, today announced it has entered into an option agreement (the "Option") with Orchids Investment LLC ("OI"). The Option gives the Company the right to execute an asset purchase agreement with OI (the "Purchase Agreement"), through which, should the Company exercise the Option, OI would acquire substantially all of the Company's assets in exchange for a credit bid of approximately $175,000,000 against the Company's obligations under its pre-petition secured credit facility plus other consideration. OI is indirectly owned by a fund affiliated with Black Diamond Capital Management, L.L.C. and Brant Paper Investment Company LLC. To facilitate the potential sale and address its debt obligations, the Company has initiated proceedings under chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware ("Court"). The Company has filed a bid procedures and sale motion with the Court, and the Purchase Agreement will be subject to an auction at which higher and better offers may be made and will require Court approval. The bid by OI comprises the initial stalking horse bid in the auction process. Subject to the results at auction, the closing of the transaction is subject to the satisfaction of usual and customary conditions, but the Company anticipates the transaction will move swiftly and aims to complete the process no later than August 2019.

https://www.otcmarkets.com/stock/TISUQ/security