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Holders of allowed general unsecured claims will receive about 2.55percentt of newly issued common stock in Warnaco.
Under the terms of Friday's agreement, Mr. Ross will buy $250 million in newly issued common shares of Assured.
In 1936, when the company issued common stock, Olive Ann became a member of the board of directors of Beech Aircraft Corporation.
Williams will receive 24.3 million newly issued common shares in Williams Communications, raising its holding to 420 million shares, or 86percentt of the outstanding stock from 85percentt.
The reorganization plan, approved by Judge Richard L. Bohanon of the Bankruptcy Court for the Southern District of New York, calls for pre-petition secured lenders to receive about $104 million in cash, $200 million in newly issued second-lien notes and more than 96percentt of newly issued common stock in Warnaco.
Large shareholders like Highland Capital Management and Pardus Capital Management, who together own over 50% of SunCom's issued common stock, have committed to vote in favor of the buyout.
Similar(52)
It's time regulators issued common-sense rules for their use aboard planes.
Why not just issue common now?
Unlike banks or other companies, societies cannot issue common stock in the financial markets.
But Cigna said it did not expect to have to issue common stock.
After all, the bank did raise $21.2 billion issuing common equity as the financial crisis unfolded.
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