BRIEF-Casa Systems Initiates Chapter 11 Sale Process For Businesses-March 2024-www.financetom.com

BRIEF-Casa Systems Initiates Chapter 11 Sale Process For Businesses

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BRIEF-Casa Systems Initiates Chapter 11 Sale Process For Businesses

Apr 3, 2024 4:48 AM

April 3 (Reuters) - Casa Systems Inc ( CASA ):

* CASA SYSTEMS INITIATES COURT-SUPERVISED CHAPTER 11 SALE

PROCESS

FOR BUSINESSES

* CASA SYSTEMS INC ( CASA ) - COMPANY HAS ENTERED INTO AN ASSET

PURCHASE

AGREEMENT TO SELL ITS 5G MOBILE CORE AND RAN BUSINESSES

* CASA SYSTEMS INC ( CASA ): ENTERED INTO A STALKING-HORSE ASSET

PURCHASE

AGREEMENT TO SELL ITS CABLE BUSINESS TO AN AFFILIATE OF VECIMA

NETWORKS

* CASA SYSTEMS INC ( CASA ): CO HAS ASKED BANKRUPTCY COURT FOR

APPROVAL TO

COMPLETE TRANSACTION BY END OF APRIL

* CASA SYSTEMS INC ( CASA ): ASKED BANKRUPTCY COURT TO APPROVE

PROCEDURES

FOR SOLICITING ADDITIONAL BIDS AND TO SET AN AUCTION FOR

MID-MAY.

* CASA SYSTEMS INC ( CASA ) - COMPANY'S NETCOMM BUSINESS IS NOT

INCLUDED

IN U.S. CHAPTER 11 PROCESS

* CASA SYSTEMS INC ( CASA ) - IN CONNECTION WITH SALE PROCESS,

COMPANY

ENTERED A RESTRUCTURING SUPPORT DEAL WITH MORE THAN 98% OF ITS

SENIOR SECURED LENDERS

* CASA SYSTEMS INC ( CASA ): CASA'S INTERNATIONAL SUBSIDIARIES ARE

NOT

DEBTORS IN CHAPTER 11 FILING

* CASA SYSTEMS INC ( CASA ): INTERNATIONAL SUBSIDIARIES WILL CONTINUE

OPERATE IN ORDINARY COURSE PENDING CLOSING OF SALES

Source text for Eikon:

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