November 24, 2017 2:37 PM ET

Diversified Telecommunication Services

Company Overview of Goodman Networks, Inc.

Company Overview

Goodman Networks Incorporated provides end-to-end network infrastructure and professional services to telecommunications industry, and installation and maintenance services for satellite communications in the United States. It operates through three segments: Infrastructure Services, Field Services, and Professional Services. The Infrastructure Services segment provides program management services of field projects necessary to deploy, upgrade, maintain, or decommission wireless and wireline outdoor networks. It supports wireless carriers in the implementation of technologies, such as 4G-LTE; and the addition of macro cell sites and outdoor small cell sites to increase the capacity at their ...

2801 Network Boulevard

Suite 300

Frisco, TX 75034

United States

Founded in 2000

3,600 Employees

Phone:

972-406-9692

Key Executives for Goodman Networks, Inc.

Co-Founder, Executive Chairman, Interim Chief Executive Officer and Interim President
Age: 49
Co-Founder, COO, Vice President of Government Solutions & Construction and Lead Director
Age: 46
Co-Founder, Vice President of Staffing, Corporate Travel & Diversity Relations and Secretary
Age: 48
Co-Founder, Vice President of Transport Services, Treasurer and Director
Age: 47
Interim Chief Financial Officer and Principal Accounting Officer
Age: 49
Compensation as of Fiscal Year 2017.

Goodman Networks, Inc. Key Developments

First Amended Reorganization Plan And Original Disclosure Statement Approved for Goodman Networks, Inc.

The US Bankruptcy Court approved the first amended plan of reorganization and original disclosure statement of Goodman Networks Incorporated on May 4, 2017. The debtor had filed its first amended plan of reorganization and disclosure statement in the court on May 2, 2017 and March 13, 2017, respectively. As per the amended plan, the administrative claims, priority tax claims and professional fee claims will be paid in full in cash. The other secured claims and other priority claims will be paid in full in cash. The secured notes claims of $325 million will receive their pro rata share of $25 million in cash, $112.5 million of new 8% senior secured notes due 2022, new payment-in-kind preferred stock in reorganized Goodman having an initial liquidation value of $80.0 million and shares of new common stock in Reorganized Goodman representing 42% of the common stock of Reorganized Goodman on the Effective Date. General unsecured claims will be paid in full in cash. The intercompany claims will be reinstated. The Section 510(b) claims will be cancelled. Intercompany Interests will be reinstated. Interests in Goodman will be reinstated with dilution of shares and constitute 7.9% of the common stock in Reorganized Goodman. The plan will be funded from cash on hand and issuance and distribution of the New Secured Notes, issuance and distribution of the New PIK Preferred Stock and issuance and distribution of the New Common Stock and dilution of interests in Goodman.

First Amended Reorganization Plan Filed by Goodman Networks, Inc.

Goodman Networks Incorporated filed its first amended plan of reorganization in the US Bankruptcy Court on May 2, 2017. As per the amended plan filed, the treatment of all claim classes shall remain the same.

Reorganization Plan and Disclosure Statement Filed by Goodman Networks, Inc.

Goodman Networks Incorporated filed a plan of reorganization and related disclosure statement in the US Bankruptcy Court on March 13, 2017. Under the plan, the administrative claims, priority tax claims and professional fee claims will be paid in full in cash. The other secured claims and other priority claims will be paid in full in cash. The secured notes claims of $325 million will receive their pro rata share of $25 million in cash, $112.5 million of new 8% senior secured notes due 2022, new payment-in-kind preferred stock in reorganized Goodman having an initial liquidation value of $80.0 million and shares of new common stock in Reorganized Goodman representing 42% of the common stock of Reorganized Goodman on the Effective Date. General unsecured claims will be paid in full in cash. The intercompany claims will be reinstated. The Section 510(b) claims will be cancelled. Intercompany Interests will be reinstated. Interests in Goodman will be reinstated with dilution of shares and constitute 7.9% of the common stock in Reorganized Goodman. The plan will be funded from cash on hand and issuance and distribution of the New Secured Notes, issuance and distribution of the New PIK Preferred Stock and issuance and distribution of the New Common Stock and dilution of interests in Goodman.

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