Company to Emerge by End of November with Significantly Reduced Debt
- Reduces Debt by Approximately $550 Million from Prepetition Levels
- Receives $50 Million New Capital Investment
- Obtains $50 Million Working Capital Facility
- Exits U.K. Business
Carol Stream, IL. – November 21, 2023 – Output Services Group, Inc., d/b/a EverView (“OSG” or the “Company”), a global provider of billing and payment solutions, announced today that it received confirmation of its Second Amended Joint Prepackaged Plan of Reorganization and expects to emerge from its expedited Chapter 11 cases as planned by the end of the month. This milestone marks the next step in the completion of the Company’s reorganization, which successfully reduces the Company’s debt by approximately $550 million, provides $100 million in financing and supports the exit of the U.K. business. Upon emergence, Pemberton will remain the largest equity holder along with new ownership.
About OSG
OSG, which transacts business under the OSG Billing and EverView brands, delivers leading customer engagement solutions that drive action, loyalty and retention. With over 50 years of experience, we enable 6,000 customers to create deeper relationships, one communication at a time.
For more information, please visit http://everview.io/ or follow us on LinkedIn, Twitter & Instagram.
