Kodak Captures $406M In Equity Financing For Ch. 11 Exit

Law360, New York (June 19, 2013, 12:35 PM EDT) -- Eastman Kodak Co. wants to use $406 million in new equity financing from Blackstone Group, BlueMountain Capital and other creditors to pay claims after its latest reorganization plan is confirmed, the company told a New York bankruptcy court Tuesday.

The new equity financing will create about 34 million new shares of common stock at about $11.94 per share in the reorganized company, or about 85 percent of the total. The deal is the "cornerstone" of Kodak's updated reorganization plan, also filed Tuesday, which will allow it...
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