Item 8.01 Other Events.
Confirmation Hearing
As previously disclosed, on November 12, 2019, Nuvectra Corporation (the
"Company") filed a voluntary petition for reorganization under Chapter 11 of the
U.S. Bankruptcy Code (the "Chapter 11 Case") in the U.S. Bankruptcy Court for
the Eastern District of Texas (the "Bankruptcy Court"). The Chapter 11 Case is
being administered under the caption In re Nuvectra Corporation, Case No.
19-43090.
On March 10, 2020, the Company filed a notice with the Bankruptcy Court (the
"Notice") scheduling a confirmation hearing with respect to the Plan of
Liquidation of Nuvectra Corporation Under Chapter 11 of the Bankruptcy Code (the
"Plan"). The hearing to confirm the Plan will commence on April 17, 2020 at 2:00
p.m. CT and will take place at the Bankruptcy Court, which is located at 660
North Central Expressway, Suite 300B, Plano, TX 75074. The deadline for filing
and serving objections to confirmation of the Plan is April 8, 2020 at 5:00 p.m.
CT. The deadline by which ballots accepting or rejecting the Plan must be
submitted is April 13, 2020 at 5:00 p.m. CT.
The above summary does not purport to be complete and is qualified in its
entirety to the text of the Notice, a copy of which is filed as Exhibit 99.1 to
this Current Report on Form 8-K and incorporated by reference herein. This
Current Report on Form 8-K is not a solicitation to accept or reject the Plan.
Any such solicitation will be made pursuant to and in accordance with the
Disclosure Statement describing the Plan (the "Disclosure Statement") and
applicable law, including orders of the Bankruptcy Court.
Additional Information Regarding the Chapter 11 Case
Filings with the Bankruptcy Court related to the Chapter 11 Case are available
on the case website maintained by Kurtzman Carson Consultants LLC ("KCC"),
available at http://www.kccllc.net/nuvectra. In addition to accessing the case
website, any person who desires to obtain a copy of the Plan or the Disclosure
Statement may request such copies by: (a) accessing the Bankruptcy Court's
website at http://www.txeb.uscourts.gov; (b) contacting the Office of the Clerk
of the Court, United States Bankruptcy Court Eastern District of Texas, 660
North Central Expressway, Suite 300B, Plano, TX 75074; or (c) contacting KCC at
1-888-201-2205 (US and Canada) or 1-310-751-1839 (outside the US and Canada), or
via e-mail at NuvectraInfo@kccllc.com. Information contained on, or that can be
accessed through, the case website, the Bankruptcy Court or KCC is not part of
this Current Report on Form 8-K, and the Company disclaims liability for any
such information.
Forward-Looking Statements
This Current Report on Form 8-K contains "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking
statements are based only on the Company's current beliefs, expectations and
assumptions regarding the future of the Company's business, future plans and
strategies, projections, anticipated events and trends, the economy and other
future conditions, and therefore they are subject to inherent uncertainties,
risks and changes in circumstances that are difficult to predict and may be
outside of the Company's control. The Company's performance may differ
materially from those indicated in the forward-looking statements, and you
should not rely on any of these forward-looking statements. Any forward-looking
statement made by the Company is based only on information currently available
to the Company and speaks only as of the date on which it is made. Important
factors that could cause the Company's actual results to differ materially from
those indicated in the forward-looking statements include: (i) the Company's
ability to obtain Bankruptcy Court approval with respect to motions in the
Chapter 11 Case; (ii) whether the Chapter 11 Case will enable to Company to sell
its assets in an orderly manner; (iii) the Company's ability to realize proceeds
from any sale of assets; (iv) the effects of the Chapter 11 Case on the Company
and the interests of the Company's creditors, equityholders and other
stakeholders; (v) the length of time the Company will operate under the Chapter
11 Case; (vi) risks associated with third party motions in the Chapter 11 Case;
(vii) risks that the Chapter 11 Case could be converted into a case under
Chapter 7 of the Bankruptcy Code; (viii) potential adverse effects of the
Chapter 11 Case proceedings on the Company's cash position and continuing
operations; (ix) risks related to the Company's ability to confirm the Plan; (x)
the impact of the coronavirus disease 2019 (COVID-19); and (xi) other risk
factors set forth in the Disclosure Statement. The Company undertakes no
obligation to publicly update any forward-looking statement, whether written or
oral, that may be made from time to time, whether as a result of new
information, future developments or otherwise.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
99.1 Notice of Confirmation Hearing, as filed with the Bankruptcy Court on
March 10, 2020
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