Aerospace and Defense
Company Overview of Colt Defense LLC
Colt Defense LLC researches, develops, manufactures, and sells firearms for military, personal defense, and recreational purposes in the United States and internationally. Its products include handguns, such as pistols and revolvers; and long guns and regulated offerings comprising military and law enforcement products, and commercial rifles and carbines. The company provides M4 carbine and M16 rifle products, including M4 commandos, C8 carbines, C8SFW, C7 rifles, infantry automatic rifles, sub-compact weapons, and the 9mm submachine guns, as well as precision bolt action rifles and grenade launchers. It also produces and provides spare parts and accessories to repair, replace, and upgrade f...
547 New Park Avenue
West Hartford, CT 06110
Key Executives for Colt Defense LLC
Chief Executive Officer and President
Chief Financial Officer and Senior Vice President of Finance
Senior Vice President and General Counsel
Senior Vice President of Commercial Programs
Senior Vice President of Government & Military Programs
Compensation as of Fiscal Year 2016.
Colt Defense LLC Key Developments
Colt Defense LLC Wins a $1.16 Million Federal Contracts
Apr 12 16
Colt Defense LLC won a $1,162,888.32 federal contract from the U.S. Army Contracting Command for guns up to 30mm.
Modified Second Amended Reorganization Plan Approved for Colt Holding Company LLC
Jan 12 16
The US Bankruptcy Court approved the modified second amended plan of reorganization of Colt Holding Company LLC on January 12, 2015. As per the approved plan, administrative expense claims of $27 million, priority tax claims of $0.30 million, priority non-tax claims, professional fees of $10.6 million shall be paid in full in cash. DIP facility claims of $41.67 million shall be paid $40 million from the proceeds of senior loan exit facility and dip facility claims of $33.33 will be converted to claims and obligations in accordance with the terms of the term loan exit term sheet. Term Loan claims of $68.9 million shall be satisfied in full in cash. Other secured claims of $0.03 million shall either be reinstated or shall be paid in full in cash. Senior Notes Claims of participating Holders of $160.4 million shall receive an estimated recovery between 4% and 15% through pro rata share of the New Class B LLC Units and senior notes claims of nonparticipating holders of $102.3 shall receive 9% cash payment on their allowed senior notes claims. Unsecured senior note claims shall receive its pro rata share of the new Class B LLC units. Qualified unsecured trade claims of $1.5 million shall receive payment in full in cash. General unsecured claims of $4.7 million shall receive a note in exchange for the full and complete settlement and have a recovery of 9%. Intercompany claims shall either be reinstated or cancelled. Intercompany claims shall be reinstated and while the equity interests in parent shall be cancelled. The plan shall be funded from debtor’s cash in hand, cash from operations, senior loan exit facility, third lien exit facility, term loan exit facility and issuance of new Class B LLC units and New Class A LLC units.
Modified Second Amended Reorganization Plan Filed by Colt Holding Company LLC
Jan 5 16
Colt Holding Company LLC filed a modified second amended joint plan of reorganization with related disclosure statement in the US Bankruptcy Court on January 5, 2016. As per the plan filed, the debtor will raise money in the form of Third Lien Exit Facility in the range of $45 to $50 million. There are no other changes in the treatment of claims. As per further modifications to the plan filed on January 11, 2016, Sciens Group funded $5 million in the offering. Fidelity/Newport has elected to fund an additional $10 million, thus raising the offering amount to $50 million.
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