Tuesday, July 25, 2017

SunEdison sets bankruptcy exit as judge OKs reorganization plan


SunEdison (OTCPK:SUNEQwins final approval for a bankruptcy plan that will leave nothing for shareholders whose investment once had been worth ~$10B.
SUNE will exit Chapter 11 to “continue business operations to administer and maximize the value of the company’s remaining assets,” according to court filings.
SUNE’s second-lien debt holders participating in the exit financing will get 90% of the company’s new common stock as well as 90% of Class A shares in TerraForm Power (NASDAQ:TERP) in exchange for backing a rights offering designed to raise $300M for the bankruptcy exit.
Now read: SunEdison's Confirmation Hearing Is On July 20 - The End To This Saga »https://seekingalpha.com/article/4086814-sunedisons-confirmation-hearing-july-20-end-saga?source=read_now

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