Appgate, Inc., along with its affiliates, filed a joint prepackaged plan of reorganization with related disclosure statement in the US Bankruptcy Court on May 6, 2024. As per the plan filed, administrative claims, DIP claims of $18 million, professional fee claims, priority tax claims, statutory fees, restructuring expenses, other secured claims, other priority claims, shall be paid in full in cash. 1L convertible notes claims of $104.17 million shall be recovered between 59% - 80% and shall receive its pro rata share of the series A units and the class C Magnetar units.

2L convertible notes claims of $9.15 million shall be recovered between 3%-20% and shall receive its pro rata share of Series B Units and the Class C AGF Units. 3L RCF claims of $58.11 million and Section 510(b) Claims shall be canceled and shall not receive or retain any distribution under this plan. General unsecured claims of $2.34 million shall either be paid in full in cash or shall be reinstated.

Intercompany claims of $6.22 million shall ether be reinstated or cancelled. Intercompany equity interests shall ether be reinstated or cancelled and Equity interests in Appgate shall be cancelled. The plan shall be funded though cash, vesting of assets and the new equity interests.