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Walter Investment Emerges from Chapter 11

Walter Investment Management Corp. Announces Anticipated Date of Emergence From Chapter 11 Proceedings and Start of Trading in New Common Stock FORT WASHINGTON, Pa., Feb. 7, 2018 /PRNewswire/ — As previously announced, Walter Investment Management Corp. (the “Company”) (NYSE: WAC.BC) received approval of its prepackaged financial restructuring plan (the “Prepackaged Plan”) from the United States Bankruptcy Court for the Southern…

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Bon-Ton Stores Files Chapter 11

  MILWAUKEE, Feb. 4, 2018 /PRNewswire/ — The Bon-Ton Stores, Inc. (OTCQX: BONT) (“the Company”), today announced that the Company and its subsidiaries have filed voluntary petitions for a court-supervised financial restructuring under Chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware. The Company is currently engaged in constructive discussions…

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Cenveo Files Chapter 11

Cenveo, Inc.’s $290 Million Financing Facility Approved New Liquidity to Be Used to Grow the Business and Continue Strong Relationships with Vendors, Customers, and Employees STAMFORD, Conn., February 5, 2018 — Cenveo, Inc. (NASDAQ: CVO) (the “Company”), a diversified manufacturer of print-related products including envelopes, custom labels, commercial print, and publisher solutions, today announced that the…

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EXCO Resources Files Chapter 11

DALLAS–(BUSINESS WIRE)–EXCO Resources, Inc. (NYSE: XCO.BC) (OTC Pink: XCOO) (“EXCO” or the “Company”) today announced that in order to facilitate a restructuring of its balance sheet, the Company and certain of its subsidiaries have filed voluntary petitions for a court-supervised reorganization under Chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court…

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Recently Emerged Avaya Trading on OTC

Avaya Successfully Completes Financial Restructuring and Emerges from Chapter 11 December 15, 2017 Company Exits with Stronger Balance Sheet, Well-Positioned for Long-Term Success Santa Clara, Calif. — December 15, 2017 — Avaya Holdings Corp. (“Avaya” or the “Company”) announced that it has successfully completed its debt restructuring and emerged from chapter 11. “This is the beginning…

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Workhorse Group to Spin Off SureFly

Workhorse to Receive Approximately $5 Million in Proceeds Through Note Purchase Agreement · New Company SureFly, Inc. Commands $33 Million Pre-Money Valuation · Spin Off Ensures Focus and Increases Financial Outlook for Workhorse’s Core Business and Creates Additional Long-Term Opportunities for SureFly CINCINNATI, December 27, 2017 – Workhorse Group Inc. (NASDAQ: WKHS), an American technology…

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Cobalt Int’l Energy Files Chapter 11

HOUSTON, TX — December 14, 2017 (BUSINESS WIRE) – Cobalt International Energy, Inc. (“Cobalt”) (NYSE:CIE) today announced that it and certain of its U.S. affiliates filed voluntary petitions for relief under chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas (the “Chapter 11 Cases”). Cobalt…

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CNX Completes CEIX Spin Off

CANONSBURG, Pa., Nov. 29, 2017 /PRNewswire/ — CONSOL Energy Inc. (NYSE: CEIX) (CONSOL), formerly named CONSOL Mining Corporation, today announced that it has completed the separation from its former parent company CNX Resources Corporation (NYSE: CNX), formerly named CONSOL Energy Inc., and has begun operating as an independent, publicly-traded company listed on the New York Stock Exchange…

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GulfMark Offshore Emerges from Chapter 11

GulfMark Offshore, Inc. (NYSE American:GLF) (“GulfMark” or the “Company”) today announced that it has completed its financial restructuring plan and emerged from bankruptcy protection under chapter 11 of the U.S. Bankruptcy Code. The Company’s court-approved Plan of Reorganization (the “Plan”) went into effect today, November 14, 2017. The Plan converts approximately $429.6 million of outstanding…

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Pacific Drilling Files Chapter 11

LUXEMBOURG –(BUSINESS WIRE)– Pacific Drilling S.A. (OTCPink: PACDF) today announced that, with the aim to optimize its capital structure pending recovery in the floating rig drilling industry, it and certain of its domestic and international subsidiaries have filed petitions for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern…

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Cars.com: Great Cash Flow & Potential for Growth

Originally published in our May 2017 Newsletter: Transaction: The spin-off of Cars.com was announced on September 7, 2016.  The idea of the spin seems straightforward – – TEGNA trades at high-single-to-low double digit EV/EBITDA multiple.  And in Slide # 5 of a company presentation for Cars.com, management makes a case for mid-to-high teens forward EBITDA…

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IDT to Spin Off Biotech Unit

NEWARK, N.J., Nov. 1, 2017 /PRNewswire/ — IDT Corporation (NYSE: IDT) today announced that its wholly-owned subsidiary, Rafael Holdings, Inc. (Rafael), has filed a Form 10 Registration Statement with the Securities and Exchange Commission related to the planned spin-off of Rafael to IDT stockholders. Rafael will own certain commercial real estate assets and interests in clinical and early…

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VIEX Ups Stake in Babcock & Wilcox

My interpretation: Management better fix things up and fix them up quickly or look for employment elsewhere.. The following constitutes the Amendment No.1 to the Schedule 13D filed by the undersigned (the “Amendment No. 1”). This Amendment No. 1 amend the Schedule 13D as specifically set forth herein. Item 3. Source and Amount of Funds…

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DXC to Spinoff USPS to Shareholders

New company will be a mission-enabled, end-to-end IT services provider to the U.S. government, providing clients with highly differentiated offerings and capabilitiesDXC will remain a global leader in commercial and non-U.S. public sector IT services, leading client digital transformation through strong focus on innovation and delivery excellenceTysons, VA, Oct. 11, 2017 – DXC Technology (NYSE: DXC), the…

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Honeywell Announces Two Spinoffs

Plans to Spin Homes and the ADI Global Distribution Business, a ~$4.5B Business, and Transportation Systems, a ~$3.0B Business, into Two Independent, Publicly-Traded Companies by End of 2018 Prospective Honeywell Portfolio Consists of High-Growth Businesses with Strong Operational and Technology Synergies, Focused on Six Key End Markets Independent Investment Decisions Will Position Spins to Thrive…

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Much Needed Fire Under Babcock & Wilcox

Item 3. Source and Amount of Funds or Other Consideration. The 2,121,802 Shares purchased by Series One were purchased with working capital (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business) in open market purchases, except as otherwise noted, as set forth in Schedule A,…

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Caesars Ent. Emerges from Chapter 11

LAS VEGAS, Oct. 6, 2017 /PRNewswire/ — Caesars Entertainment Corporation (“Caesars Entertainment” or the “Company”) (NASDAQ: CZR) today announced the completion of its previously announced merger with Caesars Acquisition Company (“CAC”) and the conclusion of the restructuring of Caesars Entertainment Operating Company, Inc. (“CEOC”) and its debtor subsidiaries. As a result of these transactions, the newly restructured Caesars Entertainment is positioned to further…

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Dover Corp May Spinoff/Sell Energy Bizs

DOWNERS GROVE, Ill., September 12, 2017 – Dover (NYSE: DOV) today announced that it is exploring strategic alternatives for the separation of its upstream energy businesses within its Energy segment, collectively, the “Wellsite” business. The Company is considering options which may include a tax-free spin-off, sale or other strategic combination. Dover’s Wellsite business, including Dover Artificial…

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