NewAge, Inc. filed a combined plan of liquidation and disclosure statement in the US Bankruptcy Court on November 30, 2022. As per the plan filed, administrative expense, accrued professional compensation claims, priority tax claims and other priority claims shall be paid in full in cash. Other secured claims shall be paid either in full in cash or receive the collateral securing its claim.

General unsecured claims (liquidation trust class) will receive its pro rata share of an interest in the liquidation trust. General unsecured claims (administrative convenience class) will receive up to 50% of their claim on pro rata basis. Subordinated claims will receive a pro rata share of an interest in the liquidation trust that is subordinated to the holders of allowed general unsecured claims (liquidation trust class).

Intercompany claims will be canceled and released. Equity interests in NewAge will receive a pro rata share of an interest in the liquidation trust that is subordinated to the holders of allowed general unsecured claims in and subordinated claims. Intercompany interests will be cancelled, and holders of such interests shall receive no distribution on account of such interests. The plan will be funded from available cash and sale of assets.