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Bankruptcy/Chapter 11

FiberTower Revised Disclosure Statement Filed

October 24, 2013
KEYWORDS bankruptcy / stock
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FiberTower filed with the U.S. Bankruptcy Court a Revised Disclosure Statement for its First Amended Joint Chapter 11 Plan dated September 27, 2013. According to documents filed with the Court, “In summary, the principal terms of the Plan…are as follows: (i) the holders of the 2016 Notes…will receive one hundred percent (100%) of the common equity in Reorganized FiberTower, in the form of shares of New FiberTower Common Stock; and (ii) Reorganized FiberTower shall receive one hundred percent (100%) of the New FiberTower Subsidiary Equity Interests in Reorganized FiberTower Network Services and Reorganized FiberTower Licensing, and Reorganized FiberTower Licensing shall receive one hundred percent (100%) of the New FiberTower Subsidiary Equity Interests in Reorganized FiberTower Spectrum, such that the Debtors’ corporate structure shall effectively remain in place following the Effective Date.” The Disclosure Statement revisions relate primarily to the Federal Communication Commission’s approval of the spectrum portfolio transfer. The Court is scheduled to consider the Disclosure Statement on October 29, 2013.

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