Jason Industries, Inc., along with its affiliates, filed a joint prepackaged plan of reorganization with related disclosure statement in the US Bankruptcy Court on June 24, 2020. As per the plan filed, administrative claims, professional fee claim, priority tax claims, statutory fees and other priority claims shall be paid in full in cash. Other secured claims shall either be paid in full in cash or delivered the collateral securing it’s allowed other secured claim or reinstated or such other treatment in accordance with section 1124 of the Bankruptcy Code. First lien secured credit agreement claims of $213.8 million is expected to recover 89% and shall receive its pro rata share of and interest in the new first lien term loan facility, the new junior lien convertible term loan facility, 100% of the new Jason equity, subject to dilution by the warrants, the management incentive plan, and the new junior convertible term loans; provided that 10% of such new Jason equity, subject to dilution by the warrants, the management incentive plan, and new junior convertible term loans shall be distributed on account of second lien credit agreement claims as provided in the plan, if applicable, the first lien put option and the warrants. First lien credit agreement deficiency claims of $64.9 million shall receive no distribution. Second lien credit agreement claims of $94.5 million is expected to recover 9% and shall receive its pro rata share of and interest in the 10% of the new Jason equity, subject to dilution by the warrants, the management incentive plan, and the new junior convertible term loans and the warrants. General unsecured claims shall either be reinstated or payment in full in cash on the later of the effective date or as soon as reasonably practicable thereafter or the date such payment is due in the ordinary course of business in accordance with the terms and conditions of the particular transaction giving rise to such allowed general unsecured claim; or such other treatment rendering such allowed general unsecured claim unimpaired. Intercompany claims and intercompany interests shall either be reinstated or canceled and released without any distribution. Jason Common Interests and Jason Preferred Interests will be cancelled, released, and extinguished, and will be of no further force or effect. The plan will be funded from available cash, new first lien term loan facility of $75 million, new junior lien convertible term loan facility of $50 million, new revolving exit facility of $30 million, warrants and proceeds from the equity of reorganized debtor. Jason Industries, Inc. filed a first modified joint prepackaged plan of reorganization with related disclosure statement in the US Bankruptcy Court on July 29, 2020. As per the plan filed, First lien secured credit agreement claims are estimated to be $202.10 million and shall receive its pro rata share of and interest in: (i) the new first lien term loan facility; (ii) new junior lien convertible term loan facility; (iii) 100% of the new Jason equity, subject to dilution by the management incentive plan, and the new junior convertible term loans minus the unencumbered plan recovery, and (iv) if applicable, the first lien put option. First lien credit agreement deficiency claims of $78.90 million shall be recovered 6.7% i.e. $5.29 million and shall receive its pro rata share of and interest in the unencumbered plan recovery. Second lien credit agreement claims of $94.50 million shall be recovered 6.7% i.e. $6.33 million and shall receive the unencumbered plan recovery. The plan will not be funded through issue of warrants. There are no changes in the treatment of any other claim class. Jason Industries, Inc., along with its affiliates, filed a further revised joint prepackaged plan of reorganization in the US Bankruptcy Court on August 17, 2020. As per the plan filed, there are no changes in the treatment of any claim class.