27 Apr 2017
+ includes comment and analysis
Advanced Lighting Technologies Inc
Advanced Lighting Technologies files amended plan of reorganization and disclosure statement with U.S. bankruptcy court
New York investment firm Saratoga Partners acquires preferred stock of Advanced Lighting and injects additional $18m
New court-approved DIP replacement facility for ALT avoids immediate need to sell assets
Appointment of COO leaves ADLT CEO free to accelerate development, intro "exciting new materials"
ALT files for Chapter 11 but notes "loyal customer base" + "strong fundamental businesses"
ADLT reports Q1 sales of $34.3m, vs $32.4m in Q4, for net loss of $1.5m, in default under bank credit facility
Advanced Lighting target miss gives GE rise in votes to 24% + maybe 39%
ADLT extends agreement with banks allowing access to existing revolving credit facility until March 2003
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