National CineMedia Says Plan Of Reorganization Has Been Confirmed By The United States Bankruptcy Court
Portfolio Pulse from Benzinga Newsdesk
National CineMedia's plan of reorganization has been confirmed by the US Bankruptcy Court. The company is expected to emerge from Chapter 11 around August or September 2023. The plan will eliminate the company's debt through the equitization of its secured debt. National CineMedia, Inc. (NASDAQ:NCMI) will continue to serve as the manager of NCM LLC.
June 27, 2023 | 8:03 pm
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National CineMedia, Inc. (NASDAQ:NCMI) will continue to serve as the manager of NCM LLC after the company emerges from Chapter 11. The company's debt will be eliminated through equitization.
The confirmation of the reorganization plan by the US Bankruptcy Court is a positive development for National CineMedia, Inc. (NASDAQ:NCMI). The elimination of debt through equitization will strengthen the company's financial position, which could lead to a positive impact on its stock price in the short term.
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