SAS initiates process to raise equity financing, provides updated financial projections and confirms expectations for existing shareholders and creditors
SAS AB (“SAS” or the “Company”) announces that it is taking the next step in its comprehensive business transformation plan known as SAS FORWARD by initiating a process to solicit equity investment in the reorganized SAS. As part of its chapter 11 process, SAS will today file a motion (the “Equity Solicitation Procedures Motion”) with the U.S. Bankruptcy Court for the Southern District of New York (the “Court”), seeking approval of procedures that will govern the Company’s equity solicitation process. The Company has previously stated that it aims to raise at least SEK 9.5 billion of equity