The US Bankruptcy Court approved the second modified second amended plan of reorganization of Ezenia! Inc. on June 2, 2015. The debtor had filed its second modified second amended plan in the Court on May 19, 2015.

As per the plan filed, Administrative Claims of $0.05 million, Priority Claims of $0.01 million and Professional Expenses of $0.12 million will be paid in full in cash. General Unsecured Claims will be paid in full in cash. Stockholder's interests will be reinstated.

The plan will be funded by cash in hand, new warrants, exit term loans and delayed draw term loan.