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Enviva ( (EVA) ) has shared an announcement.
Enviva Inc. and its subsidiaries, collectively known as the Debtors, filed for Chapter 11 bankruptcy on March 12, 2024, and are now operating under the jurisdiction of the Bankruptcy Court as debtors in possession. They have since proposed an Amended Joint Chapter 11 Plan of Reorganization, detailing their restructuring strategy. This plan, which is not yet approved by the Bankruptcy Court, suggests that current equity interests will be canceled, with no recovery for holders, and the company will re-emerge as a private entity, no longer subject to public reporting requirements. The plan’s acceptance is still uncertain, and the outlined information could change, emphasizing that the company’s forward-looking statements are speculative and subject to various risks and uncertainties.
Find detailed analytics on EVA stock on TipRanks’ Stock Analysis page.