The US Bankruptcy Court approved the third amended joint plan of reorganization of Revlon, Inc. on April 3, 2023. The debtor has filed its third amended joint plan in the Court on March 31, 2023. As per the amended plan, administrative claims, professional compensation claims, priority tax claims, term DIP facility claims, ABL DIP facility claims, statutory fees, other secured claims, other priority claims, FILO ABL claims of $56.9 million, shall be paid in full in cash.

OpCo term loan claims of $877.6 million shall receive its pro rata share of cash in the amount of $56 million or if such holder makes or is deemed to make the class 4 equity election, such holder’s pro rata share of the class 4 equity distribution. 2020 Term B-1 Loan claims of $1,093.7 million shall receive either a principal amount of take-back term loans equal to such holder’s allowed 2020 Term B-1 Loan Claim or an amount of cash equal to the principal amount of take-back term loans. 2020 Term B-2 Loan Claims of $946.8 million shall receive its pro rata share of equity distribution.

BrandCo Third Lien Guaranty Claims of $3 million shall be cancelled. Unsecured notes claim of $441.4 million shall receive its pro rata share of unsecured notes settlement distribution. Talc personal injury claims of $150 million shall receive its pro rata share of the talc personal injury settlement distribution distributable from the PI settlement fund.

Non-Qualified pension claims of $60 million shall receive its pro rata share of pension settlement distribution. Trade claims of $80 million shall receive its pro rata share of trade settlement distribution. Other general unsecured claims of $62 million shall receive its pro rata share of other GUC settlement distribution.

Subordinated claims shall be cancelled. Intercompany claims and interests shall be reinstated or cancelled. Interests in Holdings shall receive no distribution under the plan and shall be cancelled.

The plan shall be funded though cash, issuance and distribution of new common stock, the equity rights offering, exit facilities, and the issuance and distribution of new warrants.