|Entry of Confirmation Order||March 27, 2015|
|Plan Effective Date||April 30, 2015|
|Noteholder Certification Deadline||April 29, 2016|
The Effective Date of the Fourth Amended Plan of Reorganization of Exide Technologies (the "Plan") occurred on April 30, 2015. If you were a holder of 8.625% Senior Secured Notes as of April 10, 2015, the deadline to certify as an “Eligible Holder” in Class A1 or not an “Eligible Holder” in Class A2 to receive your distribution under the Plan was April 29, 2016.
As previously disclosed, on March 27, 2015, the United States Bankruptcy Court for the District of Delaware (the "Bankruptcy Court") entered the Findings of Fact, Conclusions of Law and Order Confirming Fourth Amended Plan of Reorganization of Exide Technologies (Docket No. 3423), confirming the Plan.
Formerly traded under the ticker symbol OTCQB: XIDEQ, Exide has emerged from Chapter 11 as a privately held Company, substantially in its current form – operating across all Industrial Energy and Transportation business segments globally.
Exide emerges with a stronger balance sheet and a focused strategy. In particular, under the Plan, Exide has emerged from Chapter 11 with reduced debt obligations, a reorganized capital structure, and resources to allow for further investments in its global businesses. The Company has reduced its debt by approximately $600 million; received approximately $165 million through its rights offering; and closed on its $200 million exit financing arranged by Bank of America, N.A., PNC Capital Markets, LLC, and BMO Capital Markets Corp. to fund its working capital needs.
On the Effective Date and pursuant to the Plan, Exide began making distributions to Holders of Allowed DIP Facility Claims and Holders of Allowed Senior Notes Claims.
In addition, on April 30, 2015, Exide launched the Senior Notes Stock Election and Senior Notes A2 Rights Offering, which expired on June 1, 2015.
Pursuant to the Plan, the Exide existing common stock has been cancelled. Common stockholders will receive no distribution and will not retain any property under Exide’s Plan.
Please contact Exide’s Distribution Agent, Garden City Group, LLC at (888) 985-9831 with any questions about distributions under the Plan or about Exide’s chapter 11 generally.