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MJAM2020

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MJAM2020

Re: zj3001 post# 368

Thursday, 02/20/2020 11:48:16 AM

Thursday, February 20, 2020 11:48:16 AM

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Were they bought or a result of this conversion?

The companies sent a plan to Judge Marvin Isgur in Houston on Friday. A deal would see Apollo and Elliott convert their roughly 70% stake in the company’s 1.5-lien notes into 99% of the equity of the reorganized oil and gas company. They would then agree to backstop $325 million of its $436 million equity rights offering at a discount.

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