secwatch.observer — SEC 8-K summary
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Issuer:     CorEnergy Infrastructure Trust, Inc. (—)
CIK:        0001347652
Form:       8-K
Filed at:   2024-02-26T23:59:59+00:00
Accession:  0001347652-24-000017
Event type: other_material
Sentiment:  negative
Materiality: 1.00
Item codes: 1.01, 1.03, 2.04, 3.01, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CorEnergy files Chapter 11 bankruptcy, restructuring plan gives noteholders 88.96% of new equity
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- Filed Chapter 11 bankruptcy on Feb 25, 2024; RSA with holders of ~90% of 5.875% Convertible Senior Notes due 2025.
- Plan: Senior Noteholders get $23.6M cash, 88.96% of new common stock, $45M 12% secured term loan, $10M revolver.
- Preferred Stock holders get 8.25% of new common if approve plan, else $0; common stock holders get estimated $0.
- Delisting from NYSE withdrawn appeal; common stock and preferred stock now trading on OTC Pink under CORR and CORRL.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1347652/000134765224000017/0001347652-24-000017-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1347652/000134765224000017/corr-20240225.htm
  HTML page:      https://secwatch.observer/filing/0001347652-24-000017

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