Nine Point Energy Chapter 11 Bankruptcy Filing Information
On March 15, after careful deliberation, Nine Point Energy Holdings, Inc. (“Nine Point”) and its subsidiaries voluntarily filed for Chapter 11 protection in the U.S. Bankruptcy Court. This was not an easy decision, but it was a necessary one. We are confident that this is the best path forward for Nine Point. Through the restructuring process, Nine Point will continue to operate the business as usual. Nine Point secured debtor-in-possession (“DIP”) financing from its secured lenders under Nine Point’s credit facility, which will be available upon Court approval. The Chapter 11 process gives the company the opportunity to reset its business and strengthen its capital structure in a sustainable way. We look forward to continuing to work with you as partners of Nine Point.