BroadVision, Inc. Emerges from Chapter 11 with Confirmation of its Chapter 11 Plan of Reorganization
BROADVISION (BVSN)
US:NASDAQ Investor Relations:
broadvision.com/about-us/investor-relations/investor-overview
Company Research
Source: GlobeNewswire
REDWOOD CITY, Calif., May 15, 2020 (GLOBE NEWSWIRE) -- BroadVision, Inc. (the “Company”) announced that the Company has emerged from Chapter 11 bankruptcy protection, successfully completing its financial restructuring process and implementing its plan of reorganization (the “Plan”), which was confirmed today, May 15, 2020, by order of the U.S. Bankruptcy Court District of Delaware today (the “Confirmation Order”). Certain capitalized terms in this release that are not otherwise defined herein will have the meanings assigned to them in the Plan. Pursuant to the Confirmation Order, holders of Allowed Claims against the Debtor will receive full payment of their Claims. Additionally, holders of record of the Company’s common stock (“Debtor Common Stock”) traded on the Nasdaq Stock Market through the close of business on Monday, May 18, 2020 are entitled to receive a cash distribution in the amount of $4.375 per share (assuming no more than 5,142,333 shares are outstanding) (the “Equi
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