Eastman Kodak Closes the Sale of $100 Million of Convertible Notes

ROCHESTER, N.Y.–(BUSINESS WIRE)–Eastman Kodak Company (NYSE: KODK) today announced that it has closed
the previously announced issue and sale of $100 million aggregate
principal amount of its 5.00% Secured Convertible Notes due 2021 (the
“Convertible Notes”) to funds managed by Southeastern Asset Management,
an employee-owned, global investment management firm.

Kodak shareholders who are not affiliated with the purchasers of the
Convertible Notes holding a majority of the outstanding shares of Kodak
common stock not held by the purchasers of the Convertible Notes have
entered into support agreements agreeing to execute written consents
approving the conversion feature of the Convertible Notes and the
issuance of shares of Kodak common stock upon conversion of the
Convertible Notes.

Concurrent with the closing of the Convertible Notes issuance, Kodak
repaid in full the approximately $83 million outstanding under its
senior secured first lien term loan facility.

About Kodak

Kodak is a technology company focused on imaging. We provide – directly
and through partnerships with other innovative companies – hardware,
software, consumables and services to customers in graphic arts,
commercial print, publishing, packaging, entertainment and commercial
films, and consumer products markets. With our world-class R&D
capabilities, innovative solutions portfolio and highly trusted brand,
Kodak is helping customers around the globe to sustainably grow their
own businesses and enjoy their lives. For additional information on
Kodak, visit us at kodak.com, follow us on Twitter @Kodak, or like us on
Facebook at Kodak.

About Southeastern Asset Management

Southeastern Asset Management is an employee-owned, global investment
firm founded in 1975. Southeastern employs a value investment approach,
focusing on long-term investments in strong businesses, which are
managed by good people and trade at deeply discounted prices relative to
intrinsic value. The firm seeks to build collaborative, constructive
relationships with company boards and management to support long-term
value creation. Southeastern is headquartered in Memphis, with global
offices in London, Singapore, and Sydney. Additional information can be
found at www.southeasternasset.com.

This press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities. The offer and sale of
the Convertible Notes are being made in a transaction not involving a
public offering and have not been registered under the Securities Act of
1933, as amended, or applicable state securities laws. Accordingly, the
Convertible Notes may not be reoffered or resold in the United States
except pursuant to an effective registration statement or an applicable
exemption from the registration requirements of the Securities Act and
applicable state securities laws.


Media Contacts:
Rangel, Kodak, +1 585-615-0549, [email protected]
Southeastern Asset Management, +1 901-761-2474, [email protected]

Bill Love, Kodak, +1 585-724-4053, [email protected]


I have been involved with publishing and marketing for the past 37 years. My passion is helping people share their voice. I am able to do this through two important venues: One, with Area-Info.net where people can share everything from opinions to events to news. It is your choice! What do you want to share? Two, through a new program called America's Real Deal I am involved with to help business owners get their voice heard. For people who love to save money and earn while saving, there is a new program called the r network. You are provided with a card that entitles the user to automatic savings on more than 300,000 products. Learn more about the revv card today. This is by invitation only to be some of the first people to get this card. I schedule speaking engagements with community groups and business groups to share my passion about the importance of "sharing your voice". Contact me directly at [email protected] for scheduling information.

You May Also Like