The US Bankruptcy Court approved the fourth amended plan of reorganization of Cyxtera Technologies, Inc. on November 17, 2023. The debtor has filed its fourth amended plan in the Court on November 13, 2023. As per the amended plan administrative claims, dip claims, professional fee claims, priority tax claims, and receivables program claims, other secured claims, and other priority claims shall receive cash equal to the full amount of its claim.

First Lien Claims of $961.49 million shall receive, in full and final satisfaction of such Claim: in the event of a recapitalization transaction, its pro rata shares of 100 percent of the new common stock, subject to dilution by the management incentive plan; or in the event of an equity investment transaction, its pro rata shares of the net sale consideration. General unsecured claims of $90 million with estimated recovery of 9.6% shall receive, in full and final satisfaction of such claim, its pro rata share of the GUC recovery pool. Section 510 Claims will be cancelled, released, discharged, and extinguished.

Intercompany Claims and Intercompany Interests shall be reinstated; or canceled or released without any distribution on account of such claim. Existing Equity Interests shall be cancelled, released, extinguished, and discharged and will be of no further force or effect. The plan shall be funded through cash in hand, sale of assets and new equity common stock.