The US Bankruptcy Court approved the third amended joint plan of liquidation and disclosure statement of CareMax, Inc. on January 31, 2025. The debtor has filed its amended plan in the Court on January 31, 2025. As per the amended plan, administrative claims, DIP claims of $122 million, professional fee claims, priority tax claims, U.S. trustee statutory fees, and other secured claims shall be paid in full in cash.
First lien debt claims of $324.1 million shall receive its pro rata share of the sale transaction equity consideration, the Caremax recoverable MSSP payments, and any remaining distributable cash. General unsecured claims of $157.3 million shall be recovered 0.22% i.e., $0.35 million will receive its pro rata share of the GUC cash pool. Section 510(b) claims are of $0. Intercompany claims and intercompany interests shall be reinstated.
Existing equity interests shall be cancelled. The plan shall be funded through available cash, proceeds from the dip facility, proceeds from the sale transactions, net proceeds from the monetization of the unencumbered assets, and issuance of equity.
