Annual report pursuant to Section 13 and 15(d)

Chapter 11 Proceedings and Emergence (Tables)

v3.24.3
Chapter 11 Proceedings and Emergence (Tables)
12 Months Ended
Mar. 31, 2024
Chapter 11 Proceedings and Emergence  
Schedule of gain on extinguishment of debt The components of the gain were as follows (in thousands):

Pre-petition senior secured principal

$

53,000

Accrued interest and fees on pre-petition senior secured principal

3,953

Additional New Money DIP Notes

 

12,000

DIP commitment fee

600

DIP PIK interest (post-petition interest)

755

New Money Exit Notes

3,000

Fair value of Preferred Units of Operating Subsidiary exchanged

(13,859)

Fair value of Exit Notes and net retained assets

(24,106)

Total gain from debt extinguishment

$

35,343

Summary of components of organization items

The table below lists the components of reorganization items for Fiscal 2024 (in thousands):

Professional fees

$

(2,750)

Adjustment of debt to approved claim

512

DIP commitment fee

(600)

Gain on debt extinguishment

35,343

Total reorganization items, net

$

32,505