Brief: SmileDirectClub Announces Process To Implement Comprehensive Recapitalization Transaction

SmileDirectClub

29/09/2023 23:38

Sept 29 (Reuters) - SmileDirectClub Inc  SDC.O :
    * SMILEDIRECTCLUB INC - ANNOUNCED A PROCESS TO IMPLEMENT A
COMPREHENSIVE RECAPITALIZATION TRANSACTION
    * SMILEDIRECTCLUB SEEKS TO EXECUTE COMPREHENSIVE
RECAPITALIZATION
TO STRENGTHEN THE BUSINESS FOR SUSTAINABLE GROWTH
    * SMILEDIRECTCLUB INC - WILL SEEK TO RECAPITALIZE THROUGH A
TRANSACTION WHERE COMPANY'S FOUNDERS HAVE COMMITTED TO INVEST AT
LEAST $20 MILLION
    * SMILEDIRECTCLUB INC - TO EFFECTUATE TRANSACTION,
SMILEDIRECTCLUB
HAS VOLUNTARILY FILED FOR PROTECTION UNDER CHAPTER 11 OF U.S.
BANKRUPTCY CODE
    * SMILEDIRECTCLUB INC- DURING  RESTRUCTURING PROCESS, CO
INTENDS
TO CONTINUE TO GIVE AFFORDABLE, ACCESSIBLE ORAL CARE TO
CUSTOMERS WITHOUT DISRUPTION
    * SMILEDIRECTCLUB - UP TO $60 MILLION OF ADDITIONAL CAPITAL
IS
AVAILABLE UPON SATISFACTION OF CERTAIN CONDITIONS

Source text for Eikon:  ID:nGNXrFVny 
Further company coverage:  SDC.O 

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