Ardagh Metal Packaging S.A. Notes Ardagh Group S.A. Update on Discussions with Noteholders
LUXEMBOURG, April 7, 2025 /PRNewswire/ -- On March 11, 2025, Ardagh Group S.A. ('AGSA'), the controlling shareholder of Ardagh Metal Packaging S.A. (the 'Company' or 'we,' 'us' and 'our'), which indirectly owns approximately 76% of the Company's outstanding ordinary shares (the 'AMPSA Ordinary Shares') and all of the Company's outstanding preferred shares (the 'AMPSA Preferred Shares' and, together with the AMPSA Ordinary Shares, the 'AMPSA Interests'), announced that it is engaging in negotiations with certain holders of its senior secured notes (the 'SSNs,' these certain holders the 'SSN Holders') and certain holders of its senior unsecured notes (the 'SUNs,' these certain holders the 'SUN Holders,' and together with the SSN Holders, the 'Holders'). Certain of the SSN Holders hold SUNs, while certain of the SUN Holders hold SSNs.
As an update to the March 11 announcement, on April 7, 2025, AGSA provided a further update on its discussions with the Holders (the 'Update'), which, summarized the SSN Holders' latest proposal to AGSA (the 'SSN proposal') and AGSA's counterproposal. The Update indicates that while no transaction has been agreed at this stage, the SSN proposal includes a potential divestment by AGSA of its AMPSA Ordinary Shares, subject to the AGSA board's approval, to a new special purpose vehicle holding structure ('New BidCo') to be owned 80% by existing indirect shareholders of AGSA and 20% by participating holders of the SUNs with a potential allocation of New BidCo equity to participating holders of the senior secured toggle notes due 2027 issued by ARD Finance S.A. (the 'PIK Notes' ). The Update further indicates that the AGSA proposal includes, unlike the SSN proposal, a potential divestment by AGSA of all its AMPSA Interests, subject to the AGSA board's approval, to New BidCo, which would be owned in the same 80/20 proportions by the existing indirect AGSA shareholders and participating SUN Holders, with consideration to holders of the PIK Notes to be agreed out of the overall transaction consideration allocated to the SUNs.
The Update indicates that AGSA continues to engage in constructive discussions with the SUN Holders and the SSN Holders regarding the terms of a potential restructuring transaction, and that AGSA will provide further updates in due course. The full text of the Update is available on AGSA's investor relations website at ir.ardaghgroup.com.
Disclaimer
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor will there be any sale of securities referred to in this press release, in any jurisdiction, including the United States, in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. Securities may not be offered or sold in the United States absent registration under the U.S. Securities Act of 1933, as amended, or an exemption from registration.
Forward Looking Statement
This press release contains 'forward-looking statements' within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Any statements that express or involve discussions with respect to proposals, predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical facts and may be 'forward looking statements.' Forward looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties that could cause actual results or events to differ materially from those presently anticipated, many of which may be beyond our control. Forward looking statements may be identified through the use of words such as 'expects,' 'will,' 'anticipates,' 'estimates,' 'believes,' or by statements indicating certain actions 'may,' 'could,' 'should' or 'might' occur. We caution you that the forward-looking information presented in this press release is not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking information contained in this press release. Certain factors that could cause actual events to differ materially from those discussed in any forward-looking statements include the risk factors described in the Company's Annual Report on Form 20-F for the year ended December 31, 2024 filed with the U.S. Securities and Exchange Commission (the 'SEC') and any other public filings made by the Company with the SEC. In addition, new risk factors and uncertainties emerge from time to time, and it is not possible for us to predict all risk factors and uncertainties, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual events to differ materially from those contained in any forward-looking statements. Under no circumstances should the inclusion of such forward-looking statements in this press release be regarded as a representation or warranty by us or any other person with respect to the achievement of results set out in such statements or that the underlying assumptions used will in fact be the case. Therefore, you are cautioned not to place undue reliance on these forward-looking statements. Any forward-looking information presented herein is made only as of the date of this press release, and we do not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Wire
an hour ago
- Business Wire
Byline Bancorp, Inc. Announces Pricing of Secondary Public Offering of Common Stock and Concurrent Share Repurchase
CHICAGO--(BUSINESS WIRE)--Byline Bancorp, Inc. ('Byline' or the 'Company') (NYSE: BY) announced today the pricing of the previously announced public offering (the 'Secondary Offering') of a total of 4,282,210 shares of the Company's common stock (the 'Offered Shares') by the Estate of Daniel L. Goodwin (the 'Estate') and Equity Shares Investors, LLC, an affiliate of the Estate, as selling stockholders of the Company (the 'Selling Stockholders'), at a public offering price of $24.75 per share. The Secondary Offering is expected to close on June 12, 2025, subject to customary closing conditions. The Company is not offering or selling any shares of its common stock in the Secondary Offering and will not receive any proceeds from the sale of its shares of common stock in the Secondary Offering. In addition, as previously announced, the Company will purchase from the underwriter $10.0 million of the shares of common stock as part of the Secondary Offering (the 'Share Repurchase'), at a price per share equal to the price per share to be paid by the underwriter to the Selling Stockholders. The Company intends to execute the Share Repurchase as part of its existing share repurchase program authorized on January 1, 2025. The Share Repurchase is conditioned upon the completion of the Secondary Offering, as well as the satisfaction of customary closing conditions, and is expected to close concurrently with the completion of the Secondary Offering. J.P. Morgan is serving as the Sole Underwriter for the Secondary Offering. An automatically effective shelf registration statement on Form S-3 relating to the shares of the Company's common stock subject to the Secondary Offering has been filed with the U.S. Securities and Exchange Commission (the 'SEC') and is available on the SEC's website at The Secondary Offering will be made only by means of a prospectus supplement and accompanying prospectus that forms a part of the registration statement, copies of which may be obtained, when available, by request from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by email at prospectus-eq_fi@ and postsalemanualrequests@ This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended. About Byline Bancorp, Inc. Headquartered in Chicago, Byline Bancorp, Inc. is the parent company of Byline Bank, a full service commercial bank serving small- and medium-sized businesses, financial sponsors, and consumers. Byline Bank has approximately $9.6 billion in assets and operates 46 branch locations throughout the Chicago and Milwaukee metropolitan areas. Byline Bank offers a broad range of commercial and community banking products and services including small ticket equipment leasing solutions and is one of the top Small Business Administration lenders in the United States. Forward-Looking Statements This press release may contain 'forward-looking statements' including statements concerning the size and terms of the Secondary Offering and the size and terms of the Share Repurchase. All statements other than statements of historical facts contained in this press release may be forward-looking statements. In some cases, you can identify the forward-looking statements by the use of words such as 'may,' 'could,' 'should,' 'would,' 'expect,' 'plan,' 'anticipate,' 'intend,' 'forecast,' 'believe,' 'estimate,' 'predict,' 'propose,' 'potential,' 'continue,' 'scheduled,' or the negative of these terms or other comparable terminology. These forward-looking statements involve many risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include but are not limited to those set forth in the periodic reports Byline files with the SEC and those described in the registration statement and the prospectus supplement and accompanying prospectus related to the Secondary Offering. All forward-looking statements included in this press release are made only as of the date of this press release. New factors emerge from time to time, and it is not possible for us to predict all of these factors. Further, we cannot assess the impact of each such factor on our business or the extent to which any factor, or combination of factors, may cause actual results to be materially different from those contained in any forward-looking statement. We expressly disclaim any obligation to update or revise any forward-looking statements, whether because of future events, new information, a change in our views or expectations, or otherwise. We make no prediction or statement about the performance of our common stock.
Business Insider
2 hours ago
- Business Insider
Graphjet Technology discloses notice from Nasdaq
Graphjet Technology (GTI) announced that it received a determination letter on June 4, 2025 from the Listing Qualifications Department of The Nasdaq Stock Market indicating, as a result of (i) the Company's delay in filing its Annual Report on Form 10-K for the period ended September 30, 2024 with the Securities and Exchange Commission and (ii) the Company's delay in filing its Quarterly Report on Form 10-Q for the period ended December 31, 2024, that the Company was not in compliance with the requirements for continued listing under Nasdaq Listing Rule 5250(c)(1), that the Company's request for continued listing on Nasdaq was denied, that trading of the Company's Class A Ordinary Shares will be suspended at the opening of business on June 13, 2025, and that a Form 25-NSE will be filed with the SEC, which will remove the Company's securities from listing and registration on Nasdaq. The Company intends to request a hearing before the Nasdaq Hearings Panel, and this request will stay the suspension of the Company's Common Stock for a period of 15 days from the date of the request. In connection with this request, the Company plans to also request a stay of the suspension pending the hearing. Confident Investing Starts Here:
Yahoo
2 hours ago
- Yahoo
Karat Packaging Inc. Announces Pricing of Secondary Offering of Common Stock
CHINO, Calif., June 10, 2025 (GLOBE NEWSWIRE) -- Karat Packaging Inc. (Nasdaq: KRT) ('Karat' or the 'Company'), a specialty distributor and manufacturer of disposable foodservice products and related items, today announced the pricing of its previously announced underwritten secondary offering of 1,500,000 shares of Karat's common stock by certain members of the Company's management team (collectively, the 'Selling Stockholders') at a price of $27.00 per share. The underwriters have been granted a 30-day option to purchase up to an additional 225,000 shares of Karat's common stock from the Selling Stockholders. The offering is expected to close on June 12, 2025, subject to the satisfaction of customary closing conditions. The Company will not receive any proceeds from the sale of shares by the Selling Stockholders. BofA Securities and William Blair & Company, L.L.C. are acting as the joint lead book-runners for the offering. The offering of these securities is being made pursuant to a shelf registration statement on Form S-3 (File No. 333-286011), which was filed with the U.S. Securities and Exchange Commission (the 'SEC') on March 21, 2025 and declared effective on March 28, 2025. The offering is being made only by means of a prospectus supplement and an accompanying prospectus as filed with the SEC. A copy of the prospectus and prospectus supplement related to the offering may be obtained, when available, by visiting the SEC's website at Alternatively, copies of the prospectus and prospectus supplement relating to the offering may be obtained by contacting BofA Securities, Attention: Prospectus Department, NC1-022-02-25, 201 North Tryon Street, Charlotte, NC 28255-0001, or by e-mail at or William Blair & Company, L.L.C., Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, IL 60606, or by calling (800) 621-0687, or emailing prospectus@ This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Karat Packaging Inc. Karat Packaging Inc. is a specialty distributor and manufacturer of a wide range of disposable foodservice products and related items, primarily used by national and regional restaurants and in foodservice settings throughout the United States. Its products include food and take-out containers, bags, tableware, cups, lids, cutlery, straws, specialty beverage ingredients, equipment, gloves and other products. The Company's eco-friendly Karat Earth® line offers quality, sustainably-focused products that are made from renewable resources. Karat Packaging also offers customized solutions, including new product development and design, printing, and logistics services. Forward Looking Statements Statements made in this release that are not statements of historical or current facts are 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding the proposed offering. We caution readers that forward-looking statements are predictions based on our current expectations about future events, and are subject to risks and uncertainties. Our actual results, performance, or achievements could differ materially from those expressed or implied by the forward-looking statements as a result of a number of factors, including the risks discussed under the heading 'Risk Factors' discussed under the caption 'Item 1A. Risk Factors' in Part I of our most recent Annual Report on Form 10-K or any updates discussed under the caption 'Item 1A. Risk Factors' in Part II of our Quarterly Reports on Form 10-Q and in our other filings with the SEC, including the prospectus supplement filed pursuant to Rule 424(b) under the Securities Act of 1933, as amended, in connection with this offering. The forward-looking statements included in this press release are made only as of the date hereof and are expressly qualified in their entirety by these cautionary statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise that occur after that date, except as required by law. Investor Relations and Media Contact PondelWilkinson Lin or Roger Pondel310-279-5980IR@
