Melinta Therapeutics, Inc. along with its affiliates, filed a first amended joint plan of reorganization with related disclosure statement in the US Bankruptcy Court on February 19, 2020. As per the amended plan filed, other priority claims will be in the amount of $0.75 million, other secured claims will be in the range $0 to $0.1 million and Secured prepetition credit agreement claims will be $142.43 million with a recovery rate of 98%. The plan funding will include GUC Trust distributable cash as well.

There is no other change in treatment of any claim class. Melinta Therapeutics, Inc., along with its affiliates, filed a first modified amended joint plan of reorganization with related disclosure statement in the US Bankruptcy Court on February 25, 2020. As per the modified plan filed, general unsecured claims of $14 million shall be recovered 21% i.e. $2.94 million and be settled in cash, only if supporting lenders are the successful bidder.

If supporting lenders are not the successful bidder, then general unsecured claims shall be allowed in the amount $187 million and be recovered 0.8% i.e. $1.50 million, which shall be settled by pro rata distribution of cash. There is no change in the treatment of any other claim class. Melinta Therapeutics, Inc., along with its affiliates, filed a second modified amended joint plan of reorganization with related disclosure statement in the US Bankruptcy Court on March 31, 2020.

As per the modified plan filed, there is no other changes in the treatment of claims.