ERICKSON INCORPORATED (OTCMKTS:EACIQ) Files An 8-K Other Events
Item 8.01 below the eligible holders that may participate in the
subscription. Except as otherwise noted, this Amendment No. 1
does not modify or update the Original Form 8-K or the
disclosures set forth therein or otherwise reflect events
occurring after the filing thereof. This Amendment No. 1 does not
constitute a re-commencement of the participation opportunity,
which will expire at 5:00 p.m. New York City time on December 19,
2016 unless extended or earlier terminated by mutual agreement of
the Backstop Parties, the Company and the agent under the DIP
Term Facility.
Incorporated (the Company) and its subsidiaries (collectively
with the Company, the Debtors) filed voluntary petitions in the
United States Bankruptcy Court for the Northern District of
Texas, Dallas Division (the Bankruptcy Court) seeking relief
under Chapter 11 of Title 11 of the United States Code. The
Chapter 11 cases are being jointly administered under the caption
In re Erickson Incorporated, et al, Case No. 16-34393 in the
United States Bankruptcy Court for the Northern District of
Texas, Dallas Division.
syndication procedures (the DIP Syndication Procedures) to which
certain holders of the Companys 8.25% Second Priority Senior
Secured Notes due 2020 (Second Priority Notes) are being afforded
the opportunity to subscribe to provide financing as lenders
under the Companys debtor-in-possession loan facility (the DIP
Term Facility). The filing with the Bankruptcy Court and the
attached Syndication Procedures are attached as Exhibit 99.1 to
this Current Report on Form 8-K and incorporated by reference
herein.
approving the DIP Term Facility (the Final DIP Order). As
authorized by the Final DIP Order, the Company began soliciting
participation in the DIP Term Facility by eligible holders of the
Second Priority Notes on December 8, 2016. The opportunity to
participate expires at 5:00 p.m., New York City time, on December
19, 2016 unless extended or earlier terminated by mutual
agreement of the Backstop Parties, the Company and the agent
under the DIP Term Facility.
of the Second Priority Notes (including each Backstop Party (as
defined in the Final DIP Order)) that is an entity that is (i)
either (A) a Qualified Institutional Buyer, as such term is
defined in Rule 144A under the Securities Act or (B) an
Institutional Accredited Investor within the meaning of Rule
501(A)(1), (2), (3) or (7) under the Securities or an entity in
which all of the equity investors are such institutional
Accredited Investors, (ii) a beneficial holder of Second Priority
Notes on December 2, 2016, and (iii) not the Company or an
affiliate of the Company.
Companys commencement of solicitation for participation in the
DIP Loan Facility is furnished as Exhibit 99.2 to this Current
Report on Form 8-K.
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Item 9.01
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Financial Statements and Exhibits.
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(d)
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Exhibits.
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Exhibit
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Description
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99.1
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Syndication Procedures, dated November 29, 2016.
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99,2
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Press Release, dated December 8, 2016.
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About ERICKSON INCORPORATED> (OTCMKTS:EACIQ)
Erickson Incorporated is a provider of aviation services to both commercial and governmental entities in approximately 20 countries. The Company’s operating segments include Commercial Aviation Services, Global Defense and Security, and Manufacturing and Maintenance, Repair and Overhaul (MRO). The Company owns and operates a fleet of aircraft and provides a range of aerial services, including critical supply and logistics for deployed military forces, humanitarian relief, firefighting, timber harvesting, infrastructure construction and crewing. It also maintains a vertically integrated manufacturing capability for the Aircrane and related components, and MRO services for the Aircrane and other aircraft. The Company operates a fleet of light, medium and heavy rotor-wing and fixed-wing aircraft. The Company also leases its aviation services for missions, with customers paying for the aircraft, maintenance, crewing services and fuel to operate the aircraft. ERICKSON INCORPORATED> (OTCMKTS:EACIQ) Recent Trading Information
ERICKSON INCORPORATED> (OTCMKTS:EACIQ) closed its last trading session down -0.0162 at 0.0988 with 658,213 shares trading hands.
