The facts are sourced from an 8-K filing with the SEC via EDGAR, published February 26, 2024. The matter's status is pending regulatory, meaning the restructuring had not concluded as of that filing.
Financial advisors are disclosed for two separate constituencies. On the creditor side, the Ad Hoc Group of Noteholders retained Perella Weinberg Partners and TPH&Co. (the energy business of Perella Weinberg Partners) as its investment bankers, alongside Faegre Drinker Biddle & Reath LLP as its legal counsel, per the source sentence describing the Ad Hoc Group's advisory team. On the company side, CorEnergy retained Teneo Capital LLC as its financial advisor and Miller Buckfire as its investment banker, in addition to Husch Blackwell LLP as legal counsel, according to the source language describing CorEnergy's own advisory retentions. No lead-versus-non-lead distinction is specified for any of these advisors in the facts block.
On the legal side, Faegre Drinker Biddle & Reath LLP is confirmed as counsel to the Ad Hoc Group of Noteholders (creditors), and Husch Blackwell LLP is confirmed as counsel to CorEnergy (the target/company).
Beyond describing this as a Chapter 11 restructuring support agreement involving a debt-for-equity component with a disclosed value of $45,000,000, the facts block does not detail the specific equity allocation, the treatment of existing shareholders, or the terms of any new debt instruments arising from the restructuring.
A number of facts are not disclosed here. No expected timeline for completion of the Chapter 11 process is given. The record does not specify what the $45,000,000 figure represents in terms of debt converted, proceeds, or claims. Lead-advisor status among the four financial/investment-banking advisors named is also not indicated.