Edition:
United States

Verso Corp (VRS.N)

VRS.N on New York Stock Exchange

5.84USD
4:02pm EDT
Change (% chg)

$0.07 (+1.21%)
Prev Close
$5.77
Open
$5.80
Day's High
$5.88
Day's Low
$5.74
Volume
49,699
Avg. Vol
32,294
52-wk High
$13.60
52-wk Low
$4.37

Latest Key Developments (Source: Significant Developments)

Verso says it plans to organize its business into two units
Monday, 14 Nov 2016 06:02am EST 

Verso Corp : Verso Corp - announced three strategic initiatives . Verso Corp - plans to organize its business into two strategic business units - graphic paper and specialty paper . Verso Corp - plans to consolidate its corporate offices in Memphis, Tennessee, And Miamisburg, Ohio, into a single headquarters . Verso Corp - plans to "improve delivery of its support services" with objective of reducing overhead expenses by at least 10 percent on an annual basis .Verso Corp - graphic paper business unit will be led by Michael A. Weinhold, and its specialty paper business unit will be led by Jason J. Handel.  Full Article

Verso Corp reports Q3 results
Monday, 14 Nov 2016 06:00am EST 

Verso Corp : Reconfirmation of 2016 adjusted EBITDA guidance of $180-190 million . Sees full year CAPEX of $70-75 million . Sees maintenance costs down $30-35 million in Q4 versus Q3 . Verso reports third quarter 2016 results . Q3 sales rose 7 percent to $578 million .Sees Q4 sales $625 million to $645 million.  Full Article

Verso plans to temporarily idle 200,000 tons of annual production capacity at Androscoggin mill
Tuesday, 1 Nov 2016 09:00am EDT 

Verso Corp : Verso announces plans to temporarily idle 200,000 tons of annual production capacity at its Androscoggin mill in Maine . Verso intends to implement this capacity reduction beginning in Q1 of 2017 . Idling of no. 3 paper machine will result in layoff of about 190 employees at Androscoggin mill . No expected disruption to customer orders .Verso anticipates that if machine is not restarted, capacity reduction will result in elimination of the jobs.  Full Article

Verso: Robert Amen to become Chairman of Board
Wednesday, 10 Aug 2016 04:15pm EDT 

Verso Corp : David J. Paterson to retire as chairman of board and chief executive officer . Office of chief executive to lead management until new CEO comes on board . Robert M. Amen to become chairman of board .Adam St. John promoted to senior vice president of manufacturing.  Full Article

Mudrick Capital reports 6.2 pct passive stake in Verso Corp
Monday, 25 Jul 2016 04:41pm EDT 

Verso Corp :Mudrick Capital Management L.P reports 6.2 percent passive stake in Verso Corporation, as of July 15, 2016 - SEC filing.  Full Article

Verso successfully emerges from bankruptcy
Friday, 15 Jul 2016 11:39am EDT 

: Verso successfully emerges from bankruptcy . Verso Corp says exit financing consists of an asset based lending facility with borrowing capacity of up to $375 million led by Wells Fargo Bank . Verso Corp says restructuring reduced company's debt by $2.4 billion and includes $595 million in exit financing . Verso Corp says exit financing also consists of a $220 million term loan facility with available loan proceeds of $198 million led by Barclays Bank PLC . Verso Corp says Verso also received approval from New York Stock Exchange for Verso's Class A common stock to be listed for trading on NYSE .Verso Corp says Verso's senior management team is unchanged and continues to lead company.  Full Article

Verso's plan of reorganization confirmed by bankruptcy court
Thursday, 23 Jun 2016 11:34am EDT 

Verso Corp : Verso's plan of reorganization confirmed by bankruptcy court . Verso's restructuring will reduce company's debt by approximately $2.4 billion upon emergence . Expects to emerge from bankruptcy with $595 million in exit financing . Verso to emerge from bankruptcy, likely by end of July . Financing to consist of asset-based lending facility with borrowing capacity of up to $375 million led by Wells Fargo Bank, National Association .Exit financing will consist of $220 million term loan facility with available loan proceeds of $198 million led by Barclays Bank PLC.  Full Article

Verso Corp names Allen Campbell as Chief Financial Officer
Tuesday, 8 Sep 2015 09:00am EDT 

Verso Corp:Announced that Allen Campbell will become its Senior Vice President and Chief Financial Officer effective upon the commencement of his employment with Verso on September 21, 2015.  Full Article

Verso announces resignation of Chief Financial Officer
Wednesday, 3 Jun 2015 08:00am EDT 

Verso Corp:Says that Robert P. Mundy, its Senior Vice President and Chief Financial Officer, has decided to leave the company to take a similar position with Packaging Corporation of America.  Full Article

More From Around the Web

BRIEF-Verso Corp reports Q3 results

* Reconfirmation of 2016 adjusted EBITDA guidance of $180-190 million