Brief: National Cinemedia Files A Voluntary Chapter 11 Petition In United States Bankruptcy Court

National CineMedia

12/04/2023 03:29

April 11 (Reuters) - National Cinemedia Inc  NCMI.O :
    * NATIONAL CINEMEDIA TO STRENGTHEN ITS FINANCIAL POSITION
AND
DRIVE LONG-TERM GROWTH THROUGH PRE-ARRANGED RESTRUCTURING
    * CONTINUES TO OPERATE BUSINESS AS USUAL, CONNECTING BRANDS
WITH
LARGEST, MOST VALUABLE MOVIEGOING AUDIENCES
    * ENTERS INTO RESTRUCTURING SUPPORT AGREEMENT THROUGH WHICH
NCM
LENDERS WILL CONVERT ALL DEBT INTO EQUITY
    * COMPANY PREVIEWS STRONG Q4 EARNINGS WITH TOTAL REVENUE
GROWTH UP
44%
    * SAYS EXPECTS TO REPORT TOTAL REVENUE GROWTH OF 44.4% TO
$91.7
MILLION IN Q4 OF 2022
    * COMPANY HAS FILED A VOLUNTARY CHAPTER 11 PETITION IN
UNITED
STATES BANKRUPTCY COURT FOR SOUTHERN DISTRICT OF TEXAS
    * HAS FILED A VOLUNTARY CHAPTER 11 PETITION IN UNITED STATES
BANKRUPTCY COURT FOR SOUTHERN DISTRICT OF TEXAS
    * NATIONAL CINEMEDIA- NCM LLC WILL ASSUME ALL OF ITS
CRITICAL
CONTRACTS UPON EMERGENCE
    * NATIONAL CINEMEDIA - ENTERED INTO COMPREHENSIVE
RESTRUCTURING
SUPPORT AGREEMENT WITH SUPPORT OF SECURED LENDERS
    * NATIONAL CINEMEDIA- UNLESS AN OFFICIAL CREDITORS COMMITTEE
IS
FORMED, ALL HOLDERS OF GENERAL UNSECURED CLAIMS WILL BE PAID IN
FULL IN ORDINARY COURSE

Source text for Eikon:  ID:nBw2bsZ2Xa 
Further company coverage:  NCMI.O 

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