Correct. The form 4's filed Friday evening state: "all previously issued and outstanding Common Stock was canceled and extinguished."
Full: Explanation of Responses:
1. As previously disclosed, on March 16, 2020, Internap Corporation (the "Company") and certain subsidiaries (the "Debtors") filed voluntary petitions for relief (collectively, the "Chapter 11 Cases") under Title 11 of the United States Code in the United States Bankruptcy Court for the Southern District of New York, White Plains Division (the "Bankruptcy Court"). On May 5, 2020, the Bankruptcy Court entered an order, which approved and confirmed the Debtors' First Amended Joint Prepackaged Chapter 11 Plan (the "Plan"). On May 8, 2020 (the "Effective Date"), the Debtors satisfied the conditions to effectiveness of the Plan and emerged from their Chapter 11 Cases.
2. Pursuant to the terms of the respective equity award agreements, immediately prior to the Effective Date, the restrictions on all outstanding restricted stock lapsed and all outstanding restricted stock units vested and shares of the Company's common stock, par value $0.001 per share (the "Common Stock") were issued in accordance with such equity award agreements.
3. In connection with the effectiveness of the Plan, all previously issued and outstanding Common Stock was canceled and extinguished.
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