Mudrick Capital in connection with Catalina Marketing Corporation’s prepackaged bankruptcy plan of reorganization

On March 28th, 2023, Catalina Marketing Corporation and its affiliated debtors filed for bankruptcy in the United States Bankruptcy Court for the Southern District of New York. Prior to filing, the debtors solicited consents from their impaired secured lenders and entered into a Restructuring Support Agreement with certain secured lenders, including funds affiliated with Mudrick Capital, under Catalina’s existing $30 million superpriority term loan credit agreement and $335 million term loan credit agreement.

Pursuant to the RSA, the consenting lenders agreed to support a prepackaged bankruptcy plan of reorganization for the enterprise, under which they will receive new first lien secured debt and 100% of the reorganized parent company’s equity.

Wachtell, Lipton, Rosen & Katz represents Mudrick.