Kodak Exits Bankruptcy

On Tuesday, September 3 Kodak announced it had completed the final steps in its Chapter 11 bankruptcy restructuring process.

The company said it has successfully closed on its agreement for $695 million in term exit financing, paid off its DIP lenders and second lien noteholders in full, completed its rights offerings and received approximately $406 million of new equity investments from participating unsecured creditors.

“We have emerged as a technology company serving imaging for business markets — including packaging, functional printing, graphic communications and professional services,”  Kodak Chairman and CEO Antonio M. Perez said in a statement. “We have been revitalized by our transformation and restructured to become a formidable competitor — leaner, with a strong capital structure, a healthy balance sheet, and the industry’s best technology.”