Pyxus International Enters Transaction Support Agreement to Restructure Debt and Issue Equity
Pyxus International, Inc. (OTCD: PYYX) has entered into a Transaction Support Agreement with a majority of its creditors to execute a comprehensive debt restructuring plan. The agreement involves exchange transactions where holders of existing secured debt can swap their current holdings for newly issued secured debt and common stock. The proposed restructuring aims to convert approximately $92 million of debt into equity and utilize proceeds from a new equity offering to pay down $65 million in debt. Additionally, the plan seeks to extend maturities for the remaining $300 million of existing secured debt, providing the company with increased financial flexibility and long-term growth support.
Tickers: $PYYX
Topics: creditor agreement debt restructuring equity exchange financial flexibility