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Global Digital Solutions' Planned Merger Partner, Airtronic USA, Inc., Files Amended Bankruptcy Reorganization Plan -- A Significant Step In Merger Process
Global Digital Solutions' Planned Merger Partner, Airtronic USA, Inc., Files Amended Bankruptcy Reorganization Plan -- A Significant Step In Merger Process.
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[{"type":"text","content":"\n\n\n\n\n\n\n\nGlobal Digital Solutions' Planned Merger Partner, Airtronic USA, Inc., Files Amended Bankruptcy Reorganization Plan -- A Significant Step In Merger Process\n\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:\"0in\";\n}\n\n\n\n\n\n\n\n\n\n\nGlobal Digital Solutions' Planned Merger Partner, Airtronic USA, Inc., Files Amended Bankruptcy Reorganization Plan -- A Significant Step In Merger Process\n\nIf confirmed by the court, the Plan will allow Airtronic -- the largest woman-owned small arms manufacturer in the United States -- to emerge from chapter 11 bankruptcy with adequate working capital to compete effectively as a well-respected, innovative leader in small arms manufacturing\n\nPR Newswire\n\nPALM BEACH, Fla., Aug. 22, 2013\n\n\n\n\n\n\n\n\n\n\n\n\n\nPALM BEACH, Fla., Aug. 22, 2013 /PRNewswire/ -- Global Digital Solutions, Inc. (GDSI), a company that is positioning itself as a leader in providing small arms manufacturing, complementary security and technology solutions and knowledge-based, culturally attuned social consulting in unsettled areas, announced today that its planned merger partner, Airtronic USA, Inc. (\"Airtronic\"), filed an amended chapter 11 bankruptcy reorganization plan (\"Plan\") on August 21, 2013, with the United States Bankruptcy Court for the Northern District of Illinois, Eastern Division.\n\n\n\"The filing of this Plan is another significant step forward in the merger process,\" said GDSI's President and CEO Richard J. Sullivan. \"If the Plan is confirmed by the court on October 2, 2013, as expected, GDSI will be able to move forward to complete its acquisition of Airtronic and Airtronic will emerge from chapter 11 with adequate working capital fully capable of competing effectively as a well-respected, innovative leader in small arms manufacturing.\"\n\n\nOn or about August 13, 2012, GDSI and Airtronic announced that they had signed a letter of intent to enter into good faith discussions involving a potential strategic combination in which Airtronic would be acquired by GDSI. Having completed those good faith discussions, the companies ...