The US Bankruptcy Court approved the fifth amended plan of reorganization of Proterra Inc., on March 6, 2024. The debtor has filed its fifth amended plan in the Court on March 1, 2024. As per the amended plan, administrative expense claims, professional compensation claims, statutory fees, other secured claims, other priority claims, first lien claims, shall be paid in full in cash.

Second lien convertible notes claims shall receive on account, and in satisfaction, of such Holder?s Pro Rata portion of $10 million of the Allowed Second Lien Convertible Notes Claims, its Pro Rata allocation of all of the equity of Reorganized Proterra; such Holder?s Allowed Second Lien Convertible Notes Claims shall be reduced Pro Rata by the Reorganized Proterra Retained Cash and the Reorganized Proterra Retained Cash shall be retained by Reorganized Proterra on the Effective Date; such Holder?s Allowed Second Lien Convertible Notes Claims shall be reduced Pro Rata by the amount (if any) that the aggregate Cure Claims payable on account of the Debtors? assumption of contracts and leases attributable to Proterra Energy exceeds $6.5 million. General unsecured claims shall receive its pro rata share of second priority distribution trust beneficiaries.

Intercompany claims shall be reinstated. Interests in OpCo, if the Debtors and the Plan Sponsor have elected that OpCo shall serve as Reorganized Proterra, have such Interest in OpCo cancelled, or Interest in OpCo shall be reinstated. Section 510(b) claims shall be cancelled.

Interests in TopCo shall have such Interest cancelled without distribution or compensation. The plan shall be funded through cash and issue of new equity.