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Goodman Networks Incorporated Plans Prepack

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In Form 8-K filed on July 27, 2017, Goodman Networks Incorporated and certain holders of the Company’s 12.125% Senior Secured Notes due 2018 have agreed to support the Restructuring of the Secured Notes. The Restructuring shall be implemented through a prepackaged Chapter 11. As of July 31, 2016, the Company and Consenting Noteholders holding in the aggregate no less than 60% of the outstanding principal amount of Secured Notes shall have entered into the RSA. Pursuant to the RSA, the Consenting Noteholders shall, among other things, direct the Indenture Trustee to not exercise any such remedies on account of any Claims against the Company until the earlier of (i) the Plan Effective Date and (ii) the termination of the RSA in accordance with its terms. Read more on distressed companies.

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