Brief: Sunstream Usa Launches As A Result Of Restructuring Of Parallel

SNDL

22/09/2023 23:21

SNDL Inc  SNDL.O :
    * SUNSTREAM USA LAUNCHES AS A RESULT OF RESTRUCTURING OF
PARALLEL
    * SNDL-SUNSTREAM USA WAS FORMED IN ANTICIPATION OF SUNSTREAM
BANCORP'S SIGNING OF RESTRUCTURING DOCUMENTATION WITH SURTERRA
HOLDINGS INC D/B/A PARALLEL
    * SNDL - ANTICIPATED TO HAVE BOARD NOMINATION RIGHTS IN
SUNSTREAM
USA, WHICH WOULD POTENTIALLY BE SERVED BY SNDL'S CEO, ZACH
GEORGE
    * SNDL INC - SUNSTREAM IS A JOINT VENTURE SPONSORED BY SNDL
INC
    * SNDL- ON SEPT 21,TALLADEGA LP TOGETHER WITH OTHER SECURED
CREDITORS OF PARALLEL SIGNED FORECLOSURE AGREEMENT WITH
PARALLEL, CERTAIN OF ITS UNITS
    * SNDL- FOLLOWING CLOSING OF PARALLEL DEAL, TRANSACTIONCO IS
ANTICIPATED TO OWN ASSETS ESSENTIAL FOR OPERATIONS IN FLORIDA,
MASSACHUSETTS, TEXAS, NEVADA
    * SNDL INC - TRANSACTIONCO WILL HAVE ABOUT US$100 MILLION OF
DEBT
OUTSTANDING, OF WHICH US$42 MILLION WILL BE HELD BY TALLADEGA
    * SNDL INC - SUNSTREAM USA IS EXPECTED TO OWN TWO-THIRDS OF
EQUITY
INTERESTS OF TRANSACTIONCO

Source text for Eikon:  ID:nPn9ZXGva 
Further company coverage:  SNDL.O