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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Revlon Inc (PK) | USOTC:REVRQ | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.07 | 0.00 | 01:00:00 |
Commission File Number
|
Registrant; State of Incorporation;
Address and Telephone Number
|
IRS Employer Identification No.
|
||
1-11178
|
Revlon, Inc.
Delaware
One New York Plaza
New York, New York, 10004
212-527-4000
|
13-3662955
|
||
33-59650
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Revlon Consumer Products Corporation
Delaware
One New York Plaza
New York, New York, 10004
212-527-4000
|
13-3662953
|
☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Title of each class
|
Trading
Symbol(s)
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Name of each exchange on
which registered
|
|||
Revlon, Inc.
|
Class A Common Stock
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REVRQ
|
|
||
Revlon Consumer Products Corporation
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None
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N/A
|
|
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Emerging Growth Company
|
Revlon, Inc.
|
☐
|
Revlon Consumer Products Corporation
|
☐
|
Item 1.01
|
Entry into a Material Definitive Agreement.
|
● |
OpCo Term Loan Claims. Each holder of OpCo Term Loan Claims (2016 Term
Loan Claims and 2020 Term B-3 Loan Claims against the OpCo Debtors) shall receive (a) its pro rata share of cash in the amount of $56 million or (b) if such holder makes or is deemed to make the Class 4 Equity Election, such holder’s pro rata
share of 18% of (i) the New Common Stock issued on the effective date of the Amended Plan (the “Effective Date”), subject to dilution by any New Common Stock issued in connection with the Equity Rights Offering (as defined below), including,
for the avoidance of doubt, any New Common Stock issued pursuant to the Backstop Commitment Agreement, in connection with any MIP Awards (as defined in the Amended Plan), and/or upon the exercise of the New Warrants (as defined in the Amended
Plan), and (ii) the Equity Subscription Rights; provided that holders of no more than $334 million of OpCo Term Loan Claims are permitted to elect to
receive cash;
|
● |
2020 Term B-1 Loan Claims. Each holder of 2020 Term B-1 Loan Claims shall
receive, either (a) a principal amount of Take-Back Term Loans equal to such holder’s Allowed 2020 Term B-1 Loan Claim or (b) an amount of cash equal to the principal amount of Take-Back Term Loans that otherwise would have been distributable
to such holder under clause (a);
|
● |
2020 Term B-2 Loan Claims. Each holder of 2020 Term B-2 Loan Claims shall
receive its pro rata share of 82% of (a) the New Common Stock issued on the Effective Date, subject to dilution by any New Common Stock issued in connection with the Equity Rights Offering, including, for the avoidance of doubt, any New
Common Stock issued pursuant to the Backstop Commitment Agreement, in connection with any MIP Awards, and/or upon the exercise of the New Warrants, and (b) the Equity Subscription Rights; and
|
● |
Other Claims. Except as indicated above, there have been no changes to
the treatment of other Claims under the Original Plan, including BrandCo Third Lien Guaranty Claims, Unsecured Notes Claims, General Unsecured Claims, Qualified Pension Claims, or Interests in Revlon.
|
● |
No later than February 21, 2023, the Debtors shall file with the Bankruptcy Court: (i) the Amended Plan; and (ii) an amended Disclosure Statement reflecting the Amended Plan;
|
● |
No later than February 22, 2023, the Bankruptcy Court shall have entered an order approving (i) the amended Disclosure Statement and (ii) the amended Backstop Motion;
|
● |
No later than February 28, 2023, the Debtors shall have commenced the solicitation of votes to accept or reject the Amended Plan;
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● |
No later than April 4, 2023, the Bankruptcy Court shall have entered an order confirming the Amended Plan; and
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● |
No later than April 18, 2023, the effective date of the Amended Plan shall have occurred.
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Item 7.01
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Regulation FD Disclosure.
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Item 9.01.
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Financial Statements and Exhibits.
|
(d)
|
Exhibits:
|
Exhibit
|
Description
|
|
Amended and Restated Restructuring Support Agreement, dated February 21, 2023, by and among the Debtors and the Consenting Creditor Parties.
|
||
Amended and Restated Backstop Commitment Agreement, dated February 21, 2023, by and among the Company and the Equity Commitment Parties.
|
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First Amended Joint Plan of Reorganization Under Chapter 11 of the Bankruptcy Code, dated February 21, 2023.
|
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Disclosure Statement for First Amended Joint Plan of Reorganization under
Chapter 11 of the Bankruptcy Code, dated February 21, 2023.
|
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104
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Exhibit 104 Cover page from this Current Report on Form 8‑K, formatted in Inline XBRL (included as Exhibit 101).
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Date: February 21, 2023
|
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REVLON, INC.
|
||
By:
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/s/ Andrew
Kidd
|
|
|
Name: Andrew Kidd
|
|
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Title: Executive Vice President, General Counsel
|
|
REVLON CONSUMER PRODUCTS CORPORATION
|
||
By:
|
/s/ Andrew
Kidd
|
|
|
Name: Andrew Kidd
|
|
|
Title: Executive Vice President, General Counsel
|
1 Year Revlon (PK) Chart |
1 Month Revlon (PK) Chart |
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