In addition, 210 Capital will provide up to
Under the plan, the company will also be shedding all of its contingent liabilities, including obligations under the lease of its former headquarters facility in
“We are announcing another significant milestone in our evolution today,” said
“210 Capital is very excited to be able to step in and become part of P10’s future by providing capital and access to credit as the company moves forward,” said
The consummation of the plan will be subject to customary conditions and other requirements. The 210 RSA also provides for termination by each party, or by any party, upon the occurrence of certain specified events. The Langley RSA provides for termination by each party, or by any party, upon the occurrence of certain specified events.
The foregoing descriptions of the RSA and the Plan are qualified by reference to the full text of such documents, copies of which P10 intends to make available on its website on or about
The company filed its voluntary Chapter 11 petition and the Plan in the
The information contained in this press release is for informational purposes only and does not constitute an offer to buy, nor a solicitation of an offer to sell, any securities of the company, nor does it constitute a solicitation of consent from any persons with respect to the transactions contemplated hereby and thereby. While the company expects the restructuring will take place in accordance with the plan, there can be no assurance that the company will be successful in completing a restructuring.
Certain statements in this press release are forward-looking and are based upon the company’s current belief as to the outcome and timing of future events. All statements, other than statements of historical facts, that address activities that the company plans, expects, believes, projects, estimates or anticipates will, should or may occur in the future are forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements herein include, but are not limited to, the ability to confirm and consummate a plan of reorganization in accordance with the terms of the Plan; the ability to complete the financing transactions contemplated by the 210 RSA; the ability to complete the transactions contemplated by the Langley RSA; risks attendant to the bankruptcy process, including the effects thereof on the company's business and on the interests of various constituents, the length of time that the company might be required to operate in bankruptcy and the continued availability of operating capital during the pendency of such proceedings; risks associated with third party motions in any bankruptcy case, which may interfere with the ability to confirm and consummate a plan of reorganization in accordance with the terms of the plan; potential adverse effects on the company's liquidity or results of operations; increased costs to execute the reorganization in accordance with the terms of the plan; effects on the market price of the company's common stock and on the company's ability to access the capital markets; and known trends and uncertainties as described in the company's Annual Report on Form 10-K for the year ended
P10 Pressand Investor Contact: Jay PowersCFO and Vice President, Finance (512) 744-9568 firstname.lastname@example.org