On October 5, 2017, Armstrong Energy, Inc. announced that it has reached an agreement in principle with the holders of approximately $156 million in aggregate principal amount of the Company’s senior secured notes due 2019, Knight Hawk Holdings, LLC, as well as the Company’s largest shareholder and the Company’s primary mineral rights provider on the terms of a strategic transaction that will provide for a comprehensive balance sheet restructuring. The agreement in principle is subject to final documentation, due diligence and customary approvals. In conjunction with the agreement in principle, the Company and the Supporting Noteholders intend to execute an additional forbearance agreement through October 31, 2017. Read more on distressed companies.
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