Company eliminating 60 jobs in Middletown, Ohio

Verso Corporation announced the preliminary results of its "modified Dutch auction" tender offer for the purchase for cash of shares of its Class A common stock, par value $0.01 per share, having an aggregate purchase price of not more than $55.0 million, which expired at 12:00 midnight, New York City time, at the end of Thursday, June 10, 2021. Based on the preliminary count by Computershare Trust Company, N.A., the depositary for the tender offer, a total of 3,039,712 Shares were properly tendered at or below the purchase price of $18.10 per Share and not properly withdrawn.

A judge in British Columbia has granted Northern Pulp creditor protection until the end of 2020 and approved an interim financing agreement that will see the mill receive $15 million from third-party lenders. Justice Shelley Fitzpatrick delivered her decision Thursday in B.C Supreme Court via teleconference following two days of arguments. The ruling means the mill, which was facing a cash crunch, now has the liquidity to get it to the end of the year as it works toward completing environmental cleanup work required by the Nova Scotia government at a site in Pictou County and works on a restructuring effort in hopes of eventually reopening the operation.

The Board of BillerudKorsnäs has decided to exercise the authorization granted to it by the Annual General Meeting on 10 May 2017, regarding repurchase of own shares. At the time of this press release, BillerudKorsnäs has 948,476 own shares in treasury. Repurchases may take place on one or more occasions during the period from 12 September 2017 until the next Annual General Meeting, up to a maximum amount of 314,690 shares. Repurchases shall be made on Nasdaq Stockholm at a price per share that is within the registered interval at any given time, i.e. the interval between the highest buying price and lowest selling price. Payment for the shares shall be made in cash. The purpose of the repurchase is to secure future delivery of shares to the participants in BillerudKorsnäs’ long term share based incentive programmes.