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PNTPQ - Patriot National Inc News Story

$0.023 -0.0  -31.3%

Last Trade - 02/07/18

Sector
Financials
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £168.5m
Position in Universe th / 7000

BRIEF-Patriot National Initiates Restructuring Files Pre-Arranged Chapter 11

Wed 31st January, 2018 7:09pm
Jan 31 (Reuters) - Patriot National Inc  PNTP.PK : 
    * PATRIOT NATIONAL INITIATES RESTRUCTURING FILES 
PRE-ARRANGED 
CHAPTER 11 
    * SAYS INTENDS TO CONSUMMATE RESTRUCTURING AND EMERGE FROM 
BANKRUPTCY IN Q2 OF 2018 
    * SAYS CO HAS ALSO FILED A PLAN OF REORGANIZATION CONSISTENT 
WITH 
RESTRUCTURING CONTEMPLATED BY RSA 
    * SAYS EXISTING PATRIOT NATIONAL STOCK WILL BE CANCELLED 
AND 
COMPANY WILL EMERGE A PRIVATELY-HELD CONCERN 
    * SAYS CERTAIN FUNDS RELATED TO CERBERUS BUSINESS FINANCE, 
TCW 
ASSET MANAGEMENT TO CONVERT PORTION OF CLAIMS UNDER FINANCING 
AGREEMENT 
    * SAYS CONVERSION OF CLAIMS BY FUNDS TO BE IN CONSIDERATION 
FOR 
100% OF NEW EQUITY TO BE ISSUED IN PATRIOT NATIONAL AND UNITS 
 
Source text for Eikon:  ID:nGNXOMUNRa  
Further company coverage:  PNTP.PK  
 
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