Enviva Partners LP

06/08/2024 | Press release | Distributed by Public on 06/08/2024 17:01

Regulation FD Disclosure Form 8 K

Item 7.01 Regulation FD Disclosure.

Monthly Operating Reports

As previously disclosed, on March 12, 2024, Enviva Inc., a Delaware corporation (the "Company") and certain subsidiaries of the Company (collectively, the "Debtors") filed voluntary petitions (the "Bankruptcy Petitions") for reorganization under Chapter 11 ("Chapter 11") of Title 11 of the United States Code in the United States Bankruptcy Court for the Eastern District of Virginia (the "Bankruptcy Court"). The Company also filed motions with the Bankruptcy Court seeking joint administration of the Debtors' cases under the caption In re Enviva Inc., et al., Case No. 24-10453 (the "Chapter 11 Cases"). On August 5, 2024, the Debtors filed with the Bankruptcy Court their monthly operating reports for the period beginning June 1, 2024 and ending June 30, 2024 (the "Monthly Operating Reports"). The Monthly Operating Reports relate to the Debtors and exclude any non-Debtor affiliates.

The Monthly Operating Reports and other filings with the Bankruptcy Court related to the Chapter 11 Cases are available on the docket of the Chapter 11 Cases which can be accessed via PACER at https://www.pacer.gov. These court filings and additional information about the Chapter 11 Cases are also available for free on the website maintained for the Company by its claims and notice agent, Verita Global (formerly Kurtzman Carson Consultants LLC), located at https://www.veritaglobal.net/enviva or by calling (877) 499-4509 (U.S. / Canada) or (917) 281-4800 (international). The information on this website is not incorporated by reference into, and does not constitute part of, this Current Report on Form 8-K (this "Current Report").

Deadline Extensions

The following milestones of the previously disclosed Restructuring Support Agreement, dated March 12, 2024, between the Company and certain of its subsidiaries and (i) certain holders or beneficial holders of the Company's outstanding 6.5% Senior Notes due 2026, Exempt Facilities Revenue Bonds (Enviva Inc. Project), Series 2022 (Green Bonds) issued by the Industrial Development Authority of Sumter County, Alabama, and Exempt Facilities Revenue Bonds (Enviva Inc.), Series 2022 (Green Bonds) issued by Mississippi Business Finance Corporation, and (ii) certain holders or beneficial holders of loans or commitments under the Company's senior secured credit facility (the "RSA"), have been extended by mutual agreement of the parties:

(i)            The milestone in Section 4(g) of the RSA, which requires the delivery to the Ad Hoc Group of an initial draft of the Debtors' revised long-term business plan, has been extended from June 10, 2024 to August 2, 2024;

(ii)           The milestone in Section 4(j) of the RSA, which requires the filing of the Plan, the Disclosure Statement, the Disclosure Statement and Solicitation Motion, a motion seeking approval of the Backstop Agreement and a motion seeking approval of the Rights Offering Procedures, has been extended from July 10, 2024 to August 19, 2024;

(iii)          The milestone in Section 4(k), which is the deadline by which the Bankruptcy Court must have entered the Disclosure Statement Order and Backstop Approval Order, has been extended from August 9, 2024 to September 25, 2024;