The US Bankruptcy Court gave an order approving the amendments to DIP financing agreement for Ormet Corporation on August 27, 2014. As per the order, the debtor has been authorized to obtain loans in an additional amount of $1.5 million from Wayzata Investment Partners LLC. The total DIP financing obtained by the debtor would now be in the amount of $116.5 million.

The DIP facility would now mature on October 31, 2014 or on the effective date of the plan or on the date of consummation of the sale of substantially all assets, whichever is earlier.