Bankruptcy & Restructuring News Headlines for Friday Jun 4, 2021

Here's what we are reading this morning:

Global Food Prices Surge to Highest in Almost a Decade, UN Says - Bloomberg: A United Nations gauge of world food costs climbed for a 12th straight month in May, its longest stretch in a decade. The continued advance risks accelerating broader inflation, complicating central banks efforts to provide more stimulus.

Jobless Claims Drop to Another Pandemic Low - WSJ: Worker filings for initial jobless claims have dropped by 35% since late April, slipping below 400,000 last week for the first time since the pandemic started.

The U.S. Economy Is Sending Confusing Signals. What’s Going On? - The New York Times: The ebbing of the pandemic has brought price increases, supply bottlenecks and labor shortages. Key indicators will show whether it’s just a stage.

AMC Entertainment Holdings, Inc. Completes 11.550 Million Share At-The-Market Equity Offering Raising $587.4 Million in Additional Equity Capital: Commenting on the capital raise, AMC President and CEO Adam Aron said, “Bringing in an additional $587.4 million of new equity on top of the $658.5 million already raised this quarter results in a total equity raise in the second quarter of $1.246 billion, substantially strengthening and improving AMC’s balance sheet, providing valuable flexibility to respond to potential challenges and capitalize on attractive opportunities in the future.”

The Two Hours That Nearly Destroyed Texas’s Electric Grid - Bloomberg: “Seconds and minutes” from total catastrophe, the state struggled to handle an extreme weather event, which led to the largest forced power outage in U.S. history

Services Boom? You Ain’t Seen Nothing Yet - WSJ: The U.S. service sector is already growing rapidly but is only set to accelerate.

Jefferies Blocks Short Sells in GameStop, AMC, MicroVision - Bloomberg: Jefferies told clients Wednesday its prime brokerage arm will no longer allow the execution of short sells in GameStop Corp., AMC Entertainment Holdings Inc. and MicroVision Inc., according to a memo seen by Bloomberg News.

AMC’s Bonds Soar From Virtually Worthless to Par in 7 Months - Bloomberg: 12% notes climb to par from 5 cents on the dollar in November

Current Reports (Form 8-K) Filed With the Securities & Exchange Commission (SEC) Regarding Material Impairments (Item 2.06) for the Week Ended Thursday Jun 3, 2021:

Purdue Pharma L.P. to Begin Soliciting Votes for its Broadly Supported Chapter 11 Plan of Reorganization | Business Wire: Purdue Pharma L.P. today announced that the Bankruptcy Court has approved the adequacy of Purdue’s disclosure statement filed in connection with its chapter 11 plan of reorganization. With this approval, Purdue may now begin providing ballots and information to over 600,000 claimants.

Older Post Newer Post