The US Bankruptcy Court gave an order to GT Advanced Technologies, Inc. to obtain exit financing of $80 million on December 4, 2015. As per the order, the debtor has been authorized to obtain exit financing of $80 million, which consists of $60 million in principal amount of the Senior Secured Notes and $20 million in Preferred Stock from Financing Support Parties. The Senior Secured Notes will carry interest rate of 9% annually payable in cash semi-annually or 11% annually payable-in-kind semi-annually with a maturity period of 5 years.

The holders of voting convertible preferred stock of $20 million, which will represent 86.8% ownership of the Reorganized Common Stock on an as-converted basis will receive dividend of 9% annually payable in cash or in kind. The proceeds of exit facility will be used to fund the debtor's reorganization plan and to pay off the claim of debtor's unsecured lenders.