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Tidewater Listing Approved

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Tidewater announced that the Company has received approval to list its new common stock with the new CUSIP number 88642R 109 on the NYSE under the same NYSE ticker symbol as shares of the Company’s existing common stock: TDW. In addition, the NYSE approved listing of the Company’s Series A Warrants and Series B Warrants with the CUSIP numbers 88642R 117 and 88642R 125, respectively, subject to compliance with applicable NYSE listing standards.

The new common stock and equity warrants will be issued upon Tidewater’s anticipated emergence from Chapter 11 proceedings in accordance with the Company’s Second Amended Joint Prepackaged Chapter 11 Plan of Reorganization. The Company currently expects that the Plan will take effect on July 31, 2017. In accordance with the Plan, Tidewater’s stockholders of record at the close of business on the effective date will be entitled to receive a combination of new common stock, Series A Warrants and Series B Warrants.

All shares of existing stock (with the CUSIP number 886423 102) will be cancelled at the close of business on the Plan’s effective date, and shares of new common stock, equity warrants and new creditor warrants (will be issued at such time).Pursuant to the Plan and following the effective date, the Company will also explore listing the new creditor warrants on an exchange, subject to approval by its board of directors and applicable listing requirements.

Read more Tidewater bankruptcy news.

The post Tidewater Listing Approved appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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