Examples of Direct Investment Preferred Equity Raise in a sentence
For the avoidance of doubt, any New Preferred Stock purchased by the Backstop Parties in the Direct Investment Preferred Equity Raise and the Equity Rights Offering pursuant to the Backstop Commitments shall be solely on account of the new money provided in the Direct Investment Preferred Equity Raise and the Backstop Commitments and not on account of any Holder’s First Lien Claims or Senior Notes Claims.
The Debtors shall fund distributions under the Plan, as applicable, with: (1) the New Common Stock and the New Preferred Stock; (2) the proceeds of the Equity Rights Offering; (3) the proceeds of the Direct Investment Preferred Equity Raise; and (4) the Debtors’ Cash on hand.
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In connection with the consummation of the Plan, the Equity Rights Offering and the Direct Investment Preferred Equity Raise shall be consummated in accordance with the terms of the Plan, the Restructuring Support Agreement, the Restructuring Term Sheet, and the Equity Rights Offering Documents.
Subject to satisfaction of all Direct Investment Commitment Conditions (unless waived by the Plan Sponsor in its sole discretion), the Debtors and Reorganized Debtors, as applicable, shall fund Plan Distributions, as applicable, with (1) the New Preferred Stock, (2) the New Common Stock, and (3) a portion of the proceeds of the Direct Investment Preferred Equity Raise in an amount equal to the Plan Distribution Amount.
The Direct Investment Preferred Equity Raise and the Direct Investment Commitments On the Effective Date, the Debtors shall consummate the Direct Investment Preferred Equity Raise, through which Reorganized Acosta shall issue $65.0 million of New Preferred Stock.
The Debtors shall raise an aggregate of $325.0 million of equity capital through the Equity Rights Offering and the Direct Investment Preferred Equity Raise.
Subject to, and in accordance with the Backstop and Direct Investment Agreement, as consideration for the Direct Investment Commitments, the Backstop Parties shall receive the Direct Investment Commitment Premium, which will be payable on, and as a condition to, the Effective Date, equal to $2.925 million, payable in Cash upon the consummation of the Direct Investment Preferred Equity Raise, and shall have been fully earned as of the Agreement Effective Date.
Together with the New Preferred Stock issued to any Holder of an Allowed New Money DIP Claim, the New Preferred Stock issued in connection with the Direct Investment Preferred Equity Raise shall constitute 100% of the New Preferred Stock.
In connection with the consummation of the Plan, the Equity Rights Offering and the Direct Investment Preferred Equity Raise shall be consummated in accordance with the terms of the Plan, the Restructuring Support Agreement, and the Equity Rights Offering Documents.