As provided in Verso's plan of reorganization, all shares of Verso's common stock issued prior to the commencement of Verso's bankruptcy proceeding were cancelled upon emergence, and Verso has issued new shares of common stock to the holders of its previously outstanding funded debt in return for their allowed claims against the company. There is no majority stockholder, and no single entity owned more than 10 percent of Verso's outstanding shares at the time of emergence.
In connection with its emergence, Verso also received approval from the New York Stock Exchange for Verso's Class A common stock to be listed for trading on the NYSE. The Class A common stock will begin trading on the NYSE on July 18, 2016. The trading symbol for the Class A common stock is "VRS," which is the same trading symbol used for Verso's common stock when it previously was listed on the NYSE.
In accordance with Verso's Chapter 11 plan of reorganization, the term of Verso's previous board of directors expired upon emergence and a new board of directors provided for in the plan of reorganization is effective immediately. As previously announced, Paterson will serve as Chairman of the Board and will remain as President and Chief Executive Officer until his replacement is named. The other directors of Verso are Robert M. Amen, Alan J. Carr, Eugene I. Davis, Jerome L. Goldman and Jay Shuster. Verso's senior management team is unchanged and continues to lead the company.
About Verso
News 
Market Data 
Discover 
