Kodak Sees Post-Chapter 11 Path to Profitable Growth

The company has filed notice of the effectiveness of its plan of reorganization with the U.S. Bankruptcy Court for the Southern District of New York. Upon the effectiveness of the plan, all previously issued and outstanding shares of Kodak common stock were cancelled, as were all other previously issued and outstanding equity interests. Kodak issued shares of a new class of common stock to participants in the rights offerings and will issue additional shares of this new class of common stock to unsecured creditors as provided in the plan of reorganization. Kodak expects to make initial distributions on account of general unsecured claims by the end of September.