Point Blank Solutions Financing Approved

Source: Bankruptcydata.com

The U.S. Bankruptcy Court signed a final order authorizing Point Blank Solutions to obtain replacement post-petition secured financing. As previously reported, the official committee of unsecured creditors and official committee of equity security holders filed a motion for approval of a $25 million post-petition secured credit facility and an equity commitment agreement for no less than $15 million and no more than $25 million on the effective date of the Plan through a backstopped rights offering.