Eastman Kodak Company successfully exchanged all outstanding Series C Preferred Stock for 15.10 million shares of its common stock on August 8, 2025. This transaction effectively eliminated a significant financial obligation from the company's balance sheet.
The Series C Preferred Stock had a carrying value of $123 million as of June 30, 2025. By converting this preferred stock into common equity, Kodak has removed a debt-like liability, which can improve its financial flexibility.
This strategic move simplifies Kodak's capital structure and reduces future fixed payment obligations associated with the preferred stock. It represents a step towards strengthening the company's overall financial health and balance sheet.
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