Monitronics International, Inc. is heading towards bankruptcy, as of May 8, 2023. Company is expected to file a Chapter 11 bankruptcy petition in the U.S. Bankruptcy Court for the Southern District of Texas to be commenced on or around May 15, 2023. within the next couple of days as it nears an agreement with existing creditors.

The Company has already obtained the requisite support from its stakeholders to confirm the plan of reorganization, and the Company expects to achieve Bankruptcy Court approval of the Plan and emerge from chapter 11 within approximately 46 days of filing. . Monitronics has received commitments for approximately $387 million in new money financing during the chapter 11 cases from existing lenders, including $90 million in new money to fund the chapter 11 process and provide cash to the balance sheet as well as $297 million to refinance the Company's existing Superpriority Revolving Credit Facility and Term Loan.

PJT Partners LP, Alvarez & Marsal and Latham & Watkins LLP are acting as lead advisors to Monitronics International, Inc. and Davis Polk & Wardwell LLP are acting as lead advisors for the ad hoc group of lenders.