Featured Articles

Intel releases tiny 3G cell modem

Intel releases tiny 3G cell modem

Intel has released a 3G cellular modem with an integrated power amplifier that fits into a 300 mm2 footprint, claiming it…

More...
Braswell 14nm Atom slips to Q2 15

Braswell 14nm Atom slips to Q2 15

It's not all rosy in the house of Intel. It seems that upcoming Atom out-of-order cores might be giving this semiconductor…

More...
TSMC 16nm wafers coming in Q1 2015

TSMC 16nm wafers coming in Q1 2015

TSMC will start producing 16nm wafers in the first quarter of 2015. Sometime in the second quarter production should ramp up…

More...
Skylake-S LGA is 35W to 95W TDP part

Skylake-S LGA is 35W to 95W TDP part

Skylake-S is the ‘tock’ of the Haswell architecture and despite being delayed from the original plan, this desktop part is scheduled…

More...
Aerocool Dead Silence reviewed

Aerocool Dead Silence reviewed

Aerocool is well known for its gamer cases with aggressive styling. However, the Dead Silence chassis offers consumers a new choice,…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Wednesday, 19 June 2013 09:35

Kodak might be back from the dead

Written by Nick Farrell

Creditors could not get a head shot

Eastman Kodak might get itself out of Chapter 11 bankruptcy and return to trading.

The company said that it will seek court approval for a $406 million rights offering that could give creditors a big equity stake in the company after it emerges from protection. Kodak said creditors agreed to backstop an offering that would let the iconic company issue 34 million common shares at $11.94 each, equal to about 85 percent of the equity of a reorganized company.

Kodak Chief Executive Antonio Perez said: "This agreement, which serves as a critical component of the capital structure for the emerging Kodak, positions us to comprehensively settle our obligations with our various key creditor constituencies."

Kodak has said it wants to emerge from Chapter 11 in the third quarter of this year.

Proceeds from the rights offering would go to repay various creditors, including more junior second-lien creditors who would no longer receive equity in the reorganised company. Kodak sought protection from creditors in January 2012 amid high pension costs, and after falling many years behind rivals in embracing digital technology in its photography business.

The company has been selling off its assets and plans to emerge from Chapter 11 as a commercial imaging business.

Nick Farrell

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments