Road and Rail
Company Overview of Jack Cooper Holdings Corp.
Jack Cooper Holdings Corp. provides transportation and logistics services in North America. It offers asset heavy and asset light solutions to the new and previously owned vehicle (POV) markets specializing in finished vehicle transportation and other logistics services for original equipment manufacturers, fleet ownership companies, remarketers, dealers, and auctions. The company’s logistics services consist of logistics services comprising asset-light services to the POV market, including automated claims management, export, port processing, third-party logistics management, and other technical services. In addition, its logistics services also comprise brokering the transportation of used...
1100 Walnut Street
Kansas City, MO 64106
Key Executives for Jack Cooper Holdings Corp.
Chief Executive Officer, President, Treasurer and Director
Chief Financial Officer, Executive Vice President and Director
Executive Vice President, General Counsel and Secretary
Executive Vice President, Associate General Counsel and Assistant Secretary
Compensation as of Fiscal Year 2017.
Jack Cooper Holdings Corp. Key Developments
Jack Cooper Enterprises, Inc. and Jack Cooper Holdings Corp. Announce Successful Exchange Transactions with 98.97% of All Notes Tendering
Jun 29 17
Jack Cooper Enterprises, Inc. ("JCEI") and Jack Cooper Holdings Corp. ("JCHC" and, together with JCEI, the "Company") announced that its previously reported exchange transactions (the "Exchange Transactions") will result in the retirement of $429.2 million of the Company's outstanding debt, including of $373.9 million of JCHC's 9.25% Senior Secured Notes due 2020 (the "JCHC Notes") and $55.3 million of JCEI's 10.50%/11.25% Senior PIK Toggle Notes due 2019 (the "JCEI Notes" and, together with the JCHC Notes, the "Existing Notes"). In total, the Existing Notes tendered represent 98.97% of all Existing Notes eligible to participate in the Exchange Transactions. The Company intends to fund the cash portions of the Exchange Transactions with the proceeds from an issuance $227.5 million of a new series of 13.75% Senior Secured Notes due 2023 (the "New Secured Notes"). The Exchange Transactions included (i) an offer to exchange (the "Exchange Offer") any and all of the JCHC Notes for (a) cash and (b) warrants issued by JCEI exercisable for shares of Class B common stock of JCEI and a related solicitation of consents (the "JCHC Consent Solicitation") to amend the JCHC Notes and related indenture, release the collateral securing the JCHC Notes and consent to a general release and waiver of claims (the "JCHC Consents") and (ii) an offer to purchase (the "Tender Offer" and, together with the Exchange Offer, the "Offers") any and all of the outstanding JCEI Notes for cash and a related solicitation of consents (the "JCEI Consent Solicitation" and, together with the JCHC Consent Solicitation, the "Consent Solicitations") to amend the JCEI Notes and related indenture and to a general release and waiver of claims (the "JCEI Consents" and, together with the JCHC Consents, the "Consents"). In connection with the Consent Solicitations, JCHC, the JCHC Notes guarantors and the JCHC Notes trustee will enter into a supplemental indenture to the indenture governing the Existing JCHC Notes giving effect to the JCHC Notes Proposed Amendments and Collateral Release (as defined and the Offering Memorandum and Disclosure Statement), and JCEI and the JCEI Notes trustee will enter into a supplemental indenture to the indenture governing the Existing JCEI Notes giving effect to the JCEI Notes Proposed Amendments (as defined and the Offering Memorandum and Disclosure Statement). As of the Expiration Time of the Offers (which was extended to 5:00 p.m., New York City time, on June 29, 2017), $373,901,000 aggregate principal amount of JCHC Notes (or 99.71%) had been validly tendered and not withdrawn in the Exchange Offer and $55,292,876 aggregate principal amount of JCEI Notes (or 94.29%) had been validly tendered and not withdrawn in the Tender Offer. The Company, the original signatories to the JCHC Support Agreement (as defined in the Offering Memorandum and Disclosure Statement) and Solus (as defined in the Offering Memorandum and Disclosure Statement) waived the 97% Minimum Condition for the JCEI Notes in light of the fact that 98.97% of all Existing Notes eligible participated in the Exchange Transactions. The final settlement of the Offers, the issuance of the New Secured Notes and the execution of the supplemental indentures are all expected to occur tomorrow, on June 30, 2017.
Jack Cooper Enterprises, Inc. and Jack Cooper Holdings Corp. Announce One Day Extension of Amended Offers to Facilitate Completion of Paperwork for Exchange Transactions
Jun 29 17
Jack Cooper Enterprises, Inc. and Jack Cooper Holdings Corp. announced an extension of the previously announced amended cash tender offer to purchase any and all of the JCEI 10.50%/11.25% Senior PIK Toggle Notes due 2019 and amended exchange offer for any and all of the JCHC 9.25% Senior Secured Notes due 2020 for cash and warrants to purchase shares of Class B common stock of JCEI. The Amended Offers are now scheduled to expire on June 29, 2017, unless further extended or earlier terminated in accordance with the amended and restated offer to purchase, offering memorandum and disclosure statement soliciting acceptances of a prepackaged plan of reorganization and the related amended consent and letter of transmittal. As on June 29, 2017, 99.71% of the JCHC Notes had been validly tendered and not withdrawn and 93.54% of the JCEI Notes had been validly tendered and not withdrawn. The Amended Offers are conditioned upon, among other matters, there being validly tendered and delivered, and not withdrawn or revoked, JCEI Notes and JCHC Notes from holders of at least 97% in aggregate principal amount of the outstanding amounts of each series of notes. Existing Notes tendered as of the original expiration time may not be withdrawn, except as provided in the support agreements signed by tendering holders. The Company is providing a one day extension to the Amended Offers to provide additional time for any remaining holders of Existing Notes to complete tenders and finalize related paperwork in order to facilitate the completion of the consensual out-of-court restructuring.
Jack Cooper Enterprises, Inc. and Jack Cooper Holdings Corp. Announce Fifth Extension of Offers to Purchase Senior Notes
Jun 12 17
Jack Cooper Enterprises, Inc. and Jack Cooper Holdings Corp. announced a fifth extension of the previously announced cash tender offer to purchase any and all of the JCEI 10.50%/11.25% Senior PIK Toggle Notes due 2019 and exchange offer for any and all of the JCHC 9.25% Senior Secured Notes due 2020 for cash and warrants to purchase shares of non-voting common stock of JCEI. As previously announced, the company has reached an agreement in principle with an ad hoc group (the "Ad Hoc Group") of holders of JCHC Notes on the terms of a consensual restructuring transaction. As previously disclosed, the Ad Hoc Group holds 74.45% of the JCHC Notes and 14.63% of the JCEI 10.50%/11.25% Senior PIK Toggle Notes due 2019 (the 'JCEI Notes' and together with the JCHC Notes, the 'Existing Notes'). The Ad Hoc Group is also working together with other noteholders that together with the Ad Hoc Group hold 86.26% of the JCHC Notes and 42.16% of the JCEI Notes. Prior to the Expiration Time, the Company intends to amend and restate the terms of the Offers consistent with the terms disclosed in the Company's press release issued June 1, 2017 (the "Amended Offers"). The terms of the Amended Offers will be set in an amended and restated Offering Memorandum, which will be distributed to all holders of Existing Notes.
Similar Private Companies By Industry
Recent Private Companies Transactions
|No transactions available in the past 12 months.|