Brief: Casa Systems Initiates Chapter 11 Sale Process For Businesses

Casa Systems

03/04/2024 12:20

April 3 (Reuters) - Casa Systems Inc  CASA.O :
    * CASA SYSTEMS INITIATES COURT-SUPERVISED CHAPTER 11 SALE
PROCESS
FOR BUSINESSES
    * CASA SYSTEMS INC - COMPANY HAS ENTERED INTO AN ASSET
PURCHASE
AGREEMENT TO SELL ITS 5G MOBILE CORE AND RAN BUSINESSES
    * CASA SYSTEMS INC: ENTERED INTO A STALKING-HORSE ASSET
PURCHASE
AGREEMENT TO SELL ITS CABLE BUSINESS TO AN AFFILIATE OF VECIMA
NETWORKS
    * CASA SYSTEMS INC: CO HAS ASKED BANKRUPTCY COURT FOR
APPROVAL TO
COMPLETE TRANSACTION BY END OF APRIL
    * CASA SYSTEMS INC: ASKED BANKRUPTCY COURT TO APPROVE
PROCEDURES
FOR SOLICITING ADDITIONAL BIDS AND TO SET AN AUCTION FOR
MID-MAY.
    * CASA SYSTEMS INC -  COMPANY'S NETCOMM BUSINESS IS NOT
INCLUDED
IN U.S. CHAPTER 11 PROCESS
    * CASA SYSTEMS INC - IN CONNECTION WITH SALE PROCESS,
COMPANY
ENTERED A RESTRUCTURING SUPPORT DEAL WITH MORE THAN 98% OF ITS
SENIOR SECURED LENDERS
    * CASA SYSTEMS INC: CASA'S INTERNATIONAL SUBSIDIARIES ARE
NOT
DEBTORS IN CHAPTER 11 FILING
    * CASA SYSTEMS INC: INTERNATIONAL SUBSIDIARIES WILL CONTINUE
TO
OPERATE IN ORDINARY COURSE PENDING CLOSING OF SALES

Source text for Eikon:  ID:nGNX2nrqT9 
Further company coverage:  CASA.O 

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