Enviva Announces Court Approval of DIP and the Commencement of the DIP Syndication Process
Enviva Announces Court Approval of DIP and the Commencement of the DIP Syndication Process
BETHESDA, Md.--(BUSINESS WIRE)-- Enviva Inc. (NYSE: EVA) ("Enviva" or the "Company"), a leading producer of sustainably sourced wood-based biomass, today announced that the U.S. Bankruptcy Court for the Eastern District of Virginia (the "Court") approved, among other matters, its previously announced $500 million debtor-in-possession financing (the "DIP Facility") pursuant to the Debtor-in-Possession Credit and Note Purchase Agreement (the "DIP Facility Agreement") and the procedures and related materials that will govern the syndication of the DIP Facility. Pursuant to the DIP Facility Agreement, the Company intends to offer certain holders of shares of the Company's Common Stock, par value $0.001 (CUSIP 29415B103) (the "Common Stock") as of March 11, 2024 (the "Record Date" and such holders, the "Holders") the opportunity (the "Opportunity") to subscribe to participate in the syndication of the DIP Facility.
环维娃公司(NYSE:EVA,以下简称“环维娃”或“本公司”),一家领先的可持续采购基于木材的生物质能源生产商,今天宣布,在东部弗吉尼亚州破产法院(以下简称“法院”)批准了其此前宣布的5亿美元优先金融贷款(以下简称“DIP Facility”)。根据“债务人占有信用和票据购买协议”(以下简称“DIP Facility Agreement”)和将治理DIP Facility的程序和相关材料。根据DIP Facility Agreement,公司打算向持有公司普通股,面值0.001美元(CUSIP 29415B103)的某些股东(以下简称“Holders”),在2024年3月11日(以下简称“Record Date”)之前,提供参与DIP Facility的机会(以下简称“Opportunity”)。
To be eligible to participate in the Opportunity, each Holder must be (i) an institutional accredited investor within the meaning of Rule 501(a)(1), (2), (3) or (7) under the Securities Act or an entity in which all of the equity investors are such institutional accredited investors, (ii) a beneficial owner of Common Stock as of the Record Date, and (iii) not the Company (an "Eligible Holder"). An Eligible Holder may designate another entity that is a partner, affiliate, or related party of such Eligible Holder to be a subscriber in the Opportunity (a "Permitted Designee"). Each Eligible Holder may elect to participate and submit a subscription to lend any portion of the DIP loans up to an aggregate amount not to exceed $100 million, provided that the minimum committed participation amount of DIP loans by any Eligible Holder and any of its Permitted Designees (taken together) shall not be less than $1 million. If you are not an Eligible Holder, you may not participate in the Opportunity.
为了有资格参与Opportunity,每个持有人必须符合以下条件:(i)证券法规501(a)(1)、(2)、(3)或(7)条款下的机构认定投资者或其所有股权投资者均为此类机构认定投资者的实体;(ii)持有普通股至记录日期为止;(iii)并非公司(以下简称“Eligible Holder”)。Eligible Holder可以指定另一个实体为Opportunity的订阅人,该实体是Eligible Holder的合作伙伴、关联方或相关方(以下简称“Permitted Designee”)。每个符合条件的股东可以选择参与并提交订阅申请,借贷DIP贷款的任何部分,最高总额不超过1亿美元,但任何符合条件的股东和其允许的被指定方(共同考虑)的最低承诺参与DIP贷款的金额不得低于100万美元。如果您不是符合条件的股东,则无法参加Opportunity。
Eligible Holders that participate in the Opportunity will be subject to certain restrictions under the DIP Facility Agreement, including with respect to voting and information rights.
参与Opportunity的符合条件股东将受到DIP Facility Agreement的某些限制,包括投票和信息权利。
The ability of Eligible Holders to submit commitments for the Opportunity commences today, March 15, 2024 and will expire at 5:00 p.m., New York City Time, on March 28, 2024 unless extended earlier or terminated, in accordance with the applicable subscription documents, and which extension will be made by public announcement by the Company in a press release and/or Form 8-K.
符合条件的股东提交Opportunity承诺的能力从今天2024年3月15日开始,将于2024年3月28日下午5点纽约时间到期,除非根据适用的订阅文件提前延长或终止,这一延长将由公司在新闻发布和/或8-K表格中公开宣布。如您是符合条件的股东,并有意参与Opportunity,请完成相关订阅文件的副本。相关申购文件的副本可在www.kccllc.com/Enviva获取,或通过信息代理商Kurtzman Carson Consultants LLC(联系人:Enviva DIP Syndication,c/o KCC,222 N. Pacific Coast Highway,Suite 300,El Segundo,CA 90245,电话:(877) 499-4509(美国/加拿大)或(917) 281-4800(国际),电子邮件:EnvivaDIP@kccllc.com)获取。Opportunity所提供的证券根据《1933年证券法修正案》(以下简称“证券法”)并未进行注册,因此不能在没有注册或豁免登记的情况下出售。本新闻稿不构成对这种描述的证券的出售要约或要约邀请,也不得构成在任何其它非法管辖区域内从事任何这类出售要约、邀请或销售。
If you are an Eligible Holder interested in participating in the Opportunity, you must complete copies of the relevant subscription documents. Copies of the relevant subscription documents may be obtained at www.kccllc.com/Enviva or by contacting the Information Agent, Kurtzman Carson Consultants LLC at Enviva DIP Syndication, c/o KCC, 222 N. Pacific Coast Highway, Suite 300, El Segundo, CA 90245, Telephone: (877) 499-4509 (U.S./Canada) or (917) 281-4800 (international), Email: EnvivaDIP@kccllc.com.
Enviva Inc.(NYSE:EVA)是世界上最大的工业木材颗粒生产商,这种可再生、可持续的能源来源由一种自然资源,即木纤维,聚合而成,并将其加工成一种可运输的形式:木颗粒。Enviva在弗吉尼亚、北卡罗来纳州、南卡罗来纳州、乔治亚州、佛罗里达州和密西西比州拥有并运营十个工厂,年产量约为500万公吨,并正在阿拉巴马州的Epes建立其第11座工厂。Enviva通过与位于英国、欧盟和日本的客户签订的长期“取用或付款”的协议出售大部分木颗粒,帮助加速能源转型摆脱传统能源来源,并在像钢铁、水泥、石灰、化学品和航空等难以减排的领域中降低生命周期基础上的温室气体排放。Enviva通过位于弗吉尼亚Port Chesapeake港口、北卡罗来纳威尔明顿港口和密西西比Pascagoula港口的深水海上码头出口其木颗粒,并通过第三方深水海上码头出口它们在乔治亚州萨凡纳、阿拉巴马州莫比尔和佛罗里达州巴拿马城。DIP Facility Agreement可在www.kccllc.com/Enviva获取(单击“DIP Syndication Materials”链接)。 EnvivaDIP@kccllc.com.
Certain principal terms of the DIP Facility and the Company and certain of its subsidiaries' contemplated restructuring are set forth in the DIP Facility Agreement, which is available at www.kccllc.com/Enviva (by clicking on the link for "DIP Syndication Materials").
DIP Facility Agreement可在www.kccllc.com/Enviva获取(单击“DIP Syndication Materials”链接)。DIP Facility Agreement可在www.kccllc.com/Enviva获取(单击“DIP Syndication Materials”链接)。
The securities being offered pursuant to the Opportunity have not been and will not be registered under the Securities Act of 1933, as amended (the "Securities Act") and may not be offered absent registration or an exemption from registration. This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation, or sale is unlawful.
本新闻稿的证券发行根据《1933年证券法》(以下简称“证券法”)并未进行注册,因此不能在没有注册或豁免登记的情况下出售。
About Enviva
关于Enviva Enviva Inc.(美国纽交所代码:EVA)是全球最大的工业木屑颗粒生产商,采用一种可再生和可持续的能源来源,将一种天然资源——木材纤维聚集成一种可运输的形式,即木屑颗粒。Enviva拥有并经营着位于弗吉尼亚、北卡罗来纳、南卡罗来纳、佐治亚、佛罗里达和密西西比的十个工厂,年产能合计约620万公吨,并正在建设位于亚拉巴马州埃佩斯的第11个工厂。Enviva通过与英国、欧盟和日本的具有信誉的客户签订长期的达成或支付承诺,出售大部分木屑颗粒,帮助加速能源转型,并减少难以减少的行业,如钢铁、水泥、石灰、化工和航空燃料的碳排放。Enviva通过位于佛吉尼亚切萨皮克港、北卡罗来纳威尔明顿港和密西西比帕斯卡古拉港的深水海上陆地终端,以及佐治亚萨凡纳、亚拉巴马州莫比尔和佛罗里达州巴拿马城的第三方深水海上陆地终端出口其木屑颗粒到全球市场。
Enviva Inc. (NYSE: EVA) is the world's largest producer of industrial wood pellets, a renewable and sustainable energy source produced by aggregating a natural resource, wood fiber, and processing it into a transportable form, wood pellets. Enviva owns and operates ten plants with annual production of approximately 5.0 million metric tons in Virginia, North Carolina, South Carolina, Georgia, Florida, and Mississippi, and is constructing its 11th plant in Epes, Alabama. Enviva sells most of its wood pellets through long-term, take-or-pay off-take contracts with customers located primarily in the United Kingdom, the European Union, and Japan, helping to accelerate the energy transition away from conventional energy sources and reduce greenhouse gas emissions on a lifecycle basis in hard-to-abate sectors like steel, cement, lime, chemicals, and aviation. Enviva exports its wood pellets to global markets through its deep-water marine terminals at the Port of Chesapeake, Virginia, the Port of Wilmington, North Carolina, and the Port of Pascagoula, Mississippi, and from third-party deep-water marine terminals in Savannah, Georgia, Mobile, Alabama, and Panama City, Florida.
Enviva Inc. (NYSE: EVA)是世界上最大的工业木质颗粒生产商,通过聚集一种天然资源木质纤维并加工成一种可运输的形式即木质颗粒,生产可再生和可持续的能源。Enviva在弗吉尼亚州、北卡罗来纳州、南卡罗来纳州、佐治亚州、佛罗里达州和密西西比州拥有并经营着10个工厂,年产量约为500万公吨,并正在建造第11个工厂。thEnviva Inc.(NYSE:EVA)是世界上最大的工业木材颗粒生产商,这种可再生、可持续的能源来源由一种自然资源,即木纤维,聚合而成,并将其加工成一种可运输的形式:木颗粒。Enviva在弗吉尼亚、北卡罗来纳州、南卡罗来纳州、乔治亚州、佛罗里达州和密西西比州拥有并运营十个工厂,年产量约为500万公吨,并正在阿拉巴马州的Epes建立其第11座工厂。Enviva通过与位于英国、欧盟和日本的客户签订的长期“取用或付款”的协议出售大部分木颗粒,帮助加速能源转型摆脱传统能源来源,并在像钢铁、水泥、石灰、化学品和航空等难以减排的领域中降低生命周期基础上的温室气体排放。Enviva通过位于弗吉尼亚Port Chesapeake港口、北卡罗来纳威尔明顿港口和密西西比Pascagoula港口的深水海上码头出口其木颗粒,并通过第三方深水海上码头出口它们在乔治亚州萨凡纳、阿拉巴马州莫比尔和佛罗里达州巴拿马城。
To learn more about Enviva, please visit our website at www.envivabiomass.com. Follow Enviva on social media @Enviva.
要了解有关Enviva的更多信息,请访问我们的网站www.envivabiomass.com。在社交媒体上关注Enviva @Enviva。
Cautionary Note Concerning Forward Looking Statements
关于前瞻性声明的注意事项
The information included herein and in any oral statements made in connection herewith include "forward-looking statements" within the meaning of Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included herein are forward-looking statements. When used herein, including any oral statements made in connection herewith, the words "could," "should," "will," "may," "believe," "anticipate," "intend," "estimate," "expect," "project," the negative of such terms, and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management's current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Enviva disclaims any duty to revise or update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof. Enviva cautions you that these forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Enviva. These risks include, but are not limited to, risks and uncertainties regarding: our ability to successfully complete a restructuring under Chapter 11 of Title 11 of the United States Code ("Chapter 11"); potential adverse effects of the Chapter 11 proceedings on our liquidity and results of operations (including the availability of operating capital during the pendency of Chapter 11 proceedings); our ability to obtain timely approval by the Court with respect to the motions filed in the Chapter 11 proceedings; objections to our restructuring process, debtor-in-possession financing, or other pleadings filed that could protract the Chapter 11 proceedings; employee attrition and our ability to retain senior management and other key personnel due to distractions and uncertainties associated with the Chapter 11 proceedings, including our ability to provide adequate compensation and benefits during the Chapter 11 proceedings; our ability to maintain relationships with vendors, customers, employees, and other third parties and regulatory authorities as a result of the Chapter 11 proceedings; the debtor-in-possession financing and other financing arrangements; the effects of the bankruptcy petitions on the Company and on the interests of various constituents, including our stockholders; the length of time that we will operate under Chapter 11 protection and the continued availability of operating capital during the pendency of the proceedings; risks associated with third party motions in the Chapter 11 proceedings, which may interfere with our ability to consummate a restructuring; our consummation of a restructuring; increased administrative and legal costs related to the Chapter 11 process and other litigation and inherent risks involved in a bankruptcy process; the Company's ability to continue funding operations through the Chapter 11 bankruptcy process; our ability to continue as a going concern; our ability to successfully execute cost-reduction and productivity initiatives on the anticipated timeline or at all; the outcome and timing of our comprehensive review; the volume and quality of products that we are able to produce or source and sell, which could be adversely affected by, among other things, operating or technical difficulties at our wood pellet production plants or deep-water marine terminals; the prices at which we are able to sell our products, including changes in spot prices; our ability to capitalize on higher spot prices and contract flexibility in the future, which is subject to fluctuations in pricing and demand; impairment of goodwill, intangible assets, and other long-lived assets; failure of our customers, vendors, and shipping partners to pay or perform their contractual obligations to us; our inability to successfully execute our project development, capacity expansion, and new facility construction activities on time and within budget; the creditworthiness of our contract counterparties; the amount of low-cost wood fiber that we are able to procure and process, which could be adversely affected by, among other things, disruptions in supply or operating or financial difficulties suffered by our suppliers; changes in the price and availability of natural gas, coal, diesel, oil, gasoline, or other sources of energy; changes in prevailing domestic and global economic, political, and market conditions, including the imposition of tariffs or trade or other economic sanctions, political instability or armed conflict, rising inflation levels and government efforts to reduce inflation, or a prolonged recession; inclement or hazardous environmental conditions, including extreme precipitation, temperatures, and flooding; fires, explosions, or other accidents; changes in domestic and foreign laws and regulations (or the interpretation thereof) related to renewable or low-carbon energy, the forestry products industry, the international shipping industry, or power, heat, or combined heat and power generators; changes in domestic and foreign tax laws and regulations affecting the taxation of our business and investors; changes in the regulatory treatment of biomass in core and emerging markets; our inability to acquire or maintain necessary permits or rights for our production, transportation, or terminaling operations; changes in the price and availability of transportation; changes in foreign currency exchange or interest rates and the failure of our hedging arrangements to effectively reduce our exposure to related risks; risks related to our indebtedness, including the levels and maturity date of such indebtedness; our failure to maintain effective quality control systems at our wood pellet production plants and deep-water marine terminals, which could lead to the rejection of our products by our customers; changes in the quality specifications for our products required by our customers; labor disputes, unionization, or similar collective actions; our inability to hire, train, or retain qualified personnel to manage and operate our business; the possibility of cyber and malware attacks; our inability to borrow funds and access capital markets; viral contagions or pandemic diseases; potential liability resulting from pending or future litigation, investigations, or claims; changes to our leadership and management team; and governmental actions and actions by other third parties that are beyond our control. Certain additional risks, uncertainties, and other factors are described in greater detail in Enviva's filings with the SEC, including the detailed factors discussed under the heading "Risk Factors" in Enviva's Annual Report on Form 10-K for the fiscal year ended December 31, 2022, as supplemented in the Company's Quarterly Reports on Form 10-Q for the fiscal quarters ended March 31, June 30, and September 30, 2023.
本文及其相关口头陈述包括《证券法》第27A条和修改后的《证券交易法》第21E条中的“前瞻性陈述”。本文中包括的所有陈述,除了现有或历史事实陈述以外,均为前瞻性陈述。在本文中使用的包括任何与之相关的口头陈述的“可能”、“应该”、“将”、“可能会”、“相信”、“预计”、“打算”、“估计”、“期望”、“项目”、“否定”等类似表示意图的词语及其他类似的表达,旨在识别前瞻性陈述,尽管并非所有前瞻性陈述都包含此类识别词。这些前瞻性陈述基于管理团队对未来事件的当前预期和假设,基于当前可用的关于未来事件结果和时机的信息。除非适用法律另有规定,Enviva无须修改或更新任何前瞻性陈述,而所有前瞻性陈述都在此声明中得到明确的资格,并以此资格表达。Enviva提醒您,这些前瞻性陈述受到风险和不确定性的影响,其中大部分难以预测,而许多超出Enviva的控制范围。这些风险包括但不限于与第11章《美国法典》(下文简称“第11章”)下的重组相关的风险和不确定性,与第11章程序中的流动性和业务结果(包括在第11章程序进行期间的营运资金可用性)相关的可能不利影响;我们能否及时获得法院关于文件中提交的第11章诉讼的批准;我们的重组过程、债务人财产和谷债权融资或其他提交文件的异议可能会拉长第11章程序;由于第11章程序造成的干扰和不确定性,包括我们能否在第11章程序期间为高管和其他关键人员提供适当的薪酬和福利,员工流失和因第11章程序的干扰和不确定性而无法保留高级管理和其他关键人才,包括我们能否在第11章程序期间为我们的供应商、客户、员工和其他第三方与监管机构保持关系;债务人财产和其他融资安排;破产申请对公司和各利益相关方,包括我们的股东,利益的影响;我们将在第11保护下运营的时间以及在程序进行期间继续获得营运资金可用性的持续状况;与第11章程序中的第三方动议有关的风险,这些动议可能会干扰我们完成重组;我们完成重组;与破产程序相关的增加的行政和法律成本以及其他诉讼和破产程序的固有风险;公司通过第11破产程序继续资助营运的能力;我们能否继续作为一家持续经营的公司;我们是否能够按预期时程或根本无法成功抗拒成本削减和生产率改进措施;我们的全面审核的结果和预期时程;我们能够生产或采购、销售的产品的数量和质量,其中可能受到我们的木质颗粒生产工厂或深水海上码头的运营或技术困难等因素的不利影响,产品的销售价格,包括现货价格的变化,我们未来利用更高的现货价格和合同灵活性的能力,这取决于价格和需求的波动;商誉、无形资产和其他长期资产可能无法收回;客户、供应商和航运合作伙伴未能支付或履行其对我们的合同义务;我们在项目开发、产能扩张和新设施建设活动中成功的能力,是否能按时或按预算成功执行;合同承包方的信用状况;我们能够采购和加工低成本木质纤维的数量,这可能会受到供应中断或我们的供应商遭受经营或财务困难的影响;天然气、煤、柴油、油、汽油或其他能源来源的价格和供应的变化;国内和国际经济、政治和市场条件的变化,包括征收关税、贸易或其他经济制裁,政治不稳定或武装冲突,通货膨胀水平上升和政府努力减少通货膨胀,或长期衰退;恶劣或危险的环境条件,包括极端降水、温度和洪水;火灾、爆炸或其他事故;与可再生或低碳能源、林产品行业、国际航运业或电力、热力或联合热力发电机相关的国内外法律和法规(或其解释)的变化;国内外税法和影响我们业务和投资者课税的法规的变化;与在核心和新兴市场中生物质的监管处理有关的变化;我们无法为生产、运输或码头运营获得或维持必要的许可或权利的风险;交通运输价格和可用性的变化;外汇汇率或利率变化及我们的套期保值安排未能有效减少有关风险的失误;我们的负债风险,包括该等负债的水平和到期日;我们无法在木质颗粒生产工厂和深水海上码头维持有效的质量控制系统,导致我们的顾客拒绝购买我们的产品;我们的顾客要求的产品质量规范的变化;劳资纠纷、工会组织或类似的集体行动;我们无法聘请、培训或留住管理和经营业务所需的合格人员;网络和恶意软件攻击的可能性;我们无法融资和获得资本市场的资金;病毒性传染或流行疾病;潜在的自诉或未来诉讼、调查或索赔造成的潜在责任;领导和管理团队的变化;以及政府行动和其他第三方的行动超出我们的控制范围。更多的风险、不确定性和其他因素的描述,请参见Enviva提交给证券交易委员会的文件,包括Enviva 2022财年年度报告的“风险因素”下讨论的详细因素,以及2023年第一季度、第二季度和第三季度的季报补充信息。
Should one or more of the risks or uncertainties described herein and in any oral statements made in connection therewith occur, or should underlying assumptions prove incorrect, actual results and plans could different materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact Enviva's expectations and projections can be found in Enviva's periodic filings with the SEC. Enviva's SEC filings are available publicly on the SEC's website at www.sec.gov.
如果出现本文中或任何口头陈述中描述的一个或多个风险或不确定性情况,或者基本假设证明不正确,实际结果和计划可能会与任何前瞻性陈述中所述的不同。有关这些信息以及其他可能影响Enviva预期和投资计划的因素的附加信息,请参见Enviva向美国证券交易委员会提交的定期报告。Enviva的SEC提交材料可以在SEC网站上公开获取。www.sec.gov.
Source: Enviva Inc.
来源:enviva公司