VIVUS, Inc., along with its affiliates, filed a joint pre-packaged plan of reorganization with related disclosure statement in the US Bankruptcy Court on July 7, 2020. As per the plan filed, administrative expense claims, statutory fees, fee claims, priority tax claims, Cash Collateral Claims and other priority claims will be paid full in cash. Other Secured Claims will be paid full in cash. Secured Note Claims of $64.52 million will be paid in two parts, $61.25 million will be paid full in cash or exchanged dollar for dollar for new debt under the Exit Facility and remaining $3.17 million will be paid in cash from the proceeds of exit facility. Convertible Note Claims of $170.90 million will be recovered 76% and paid though 100% of the reorganized VIVUS equity. General unsecured claims will continue to be paid in the ordinary course of business, subordinated claims will receive no distribution, intercompany claims will be reinstated or cancelled, and all equity interest will be cancelled. The plan will be funded through cash in hand, sale of assets, Exit facility of $90 million and issuance of new reorganized equity.