Replies to post #41 on Tidewater Inc. (TDW)

[eFinanceMarkets]

Tidewater in pre-packaged bankruptcy deal; shares -20%

The company has inked a Restructuring Support Agreement with certain of its lenders, and expects to file for chapter 11 by next Wednesday.

Tidewater (NYSE:TDW) continues to negotiate with the NYSE about keeping its listing through the restructuring process.

Under the deal, existing common stockholders will be wiped out, and receive common stock in the reorganized Tidewater representing 5% of the company, along with two sets of warrants.

Shares -19.75% premarket to $0.712.