Brief: Loyalty Ventures Inc Announces Bankruptcy Filings And Plan To Delist From The Nasdaq Global Select Market

Loyalty Ventures

10/03/2023 13:31

March 10 (Reuters) - Loyalty Ventures Inc  LYLT.O :
    * LOYALTY VENTURES INC. ANNOUNCES BANKRUPTCY FILINGS AND
PLAN TO
DELIST FROM THE NASDAQ GLOBAL SELECT MARKET
    * LOYALTY VENTURES INC - CO AND CERTAIN OF ITS SUBSIDIARIES
FILED
VOLUNTARY PETITIONS FOR RELIEF UNDER CHAPTER 11 OF TITLE 11 OF
UNITED STATES CODE
    * LOYALTY VENTURES-CURRENTLY EXPECTS INTERCOMPANY DIP
FACILITY TO
PROVIDE ENOUGH LIQUIDITY TO MEET FINANCIAL OBLIGATIONS IN
DURATION OF CHAPTER 11 CASES
    * LOYALTY VENTURES - IN CONNECTION WITH CHAPTER 11 CASES,
HAS
FILED CUSTOMARY MOTIONS AUTHORIZING IT TO PROCEED WITH ITS
OPERATIONS IN ORDINARY COURSE
    * LOYALTY VENTURES INC - ALSO ANNOUNCED ITS INTENTION TO
VOLUNTARILY DELIST ITS COMMON STOCK, PAR VALUE $0.01 PER SHARE
    * LOYALTY VENTURES - WILL ENTER INTO DIP FACILITY WITH
AFFILIATE
OF BMO
    * LOYALTY VENTURES - LENDER WILL MAKE AVAILABLE TO
LOYALTYONE A
NON-REVOLVING SECURED CREDIT FACILITY  OF $70 MILLION
    * LOYALTY VENTURES INC - CO WILL FILE A NOTICE ON FORM 25
RELATING
TO SUCH DELISTING WITH SEC ON OR ABOUT MARCH 20, 2023
    * LOYALTY VENTURES - CO'S PREVIOUSLY ANNOUNCED SALE OF ITS
BRANDLOYALTY BUSINESS TO OPPORTUNITY PARTNERS B.V. REMAINS ON
TRACK TO CLOSE BY Q2 OF 2023
    * LOYALTY VENTURES - LOYALTYONE, CO'S UNIT, SOUGHT
PROTECTION
UNDER COMPANIES' CREDITORS ARRANGEMENT ACT (CANADA) WITH ONTARIO
SUPERIOR COURT OF JUSTICE
    * LOYALTY VENTURES INC - LOYALTYONE FILED MOTIONS SEEKING
CANADIAN
COURT APPROVAL UNDER CCAA OF A SALE AND INVESTMENT SOLICITATION
PROCESS

Source text for Eikon:  ID:nPn9SpjdRa 
Further company coverage:  LYLT.O 

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