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SFX Entertainment Plan Filed

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SFX Entertainment filed with U.S. Bankruptcy Court a First Amended Joint Plan of Reorganization. A related Disclosure Statement was not filed.

According to the documents filed with the Court, “On the Effective Date, each Holder of a Tranche B DIP Facility Claim (other than an Incremental Tranche B DIP Loan Claim), together with the Holders of Allowed Original Foreign Loan Claims as set forth in Section 3.02(c), shall receive, in full and complete settlement, release, and discharge of such Claim, such Holder’s pro rata share (calculated based on the percentage such Holder’s Allowed Tranche B DIP Facility Claim, exclusive of any Incremental Tranche B DIP Loan Claim) represents of the total of Allowed Tranche B DIP Facility Claims (exclusive of the Incremental Tranche B DIP Loan Claims and Allowed Original Foreign Loan Claims) of (1) 100% of the New Series A Preferred Stock, and (2) 100% of the Reorganized SFXE Common Stock, subject to dilution by the New Second Lien Facility Equity and by any common stock that may be issued upon exercise of the New Warrants, if any. On the Effective Date, each Holder of an Incremental Tranche B DIP Loan Claim, if any, shall receive, in full and complete settlement, release, and discharge of such Claim, a loan under the New Second Lien Facility equal to the Allowed Incremental Tranche B DIP Loan Claim after conversion of the Incremental Tranche B DIP Loan Claims into the New Second Lien Facility….If on the Effective Date, the Reorganized Debtors determine that the issuance of the New Warrants, in lieu of the allocation of the CVRs, or the issuance of Reorganized SFXE Common Stock upon exercise of any of the New Warrants will not subject the Reorganized.”

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The post SFX Entertainment Plan Filed appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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