BillerudKorsns has an annual turnover of approximately SEK 24 billion and is listed on Nasdaq Stockholm. In making this acquisition, BillerudKorsns recognizes that Verso's strategic assets are positioned in a region with abundant and cost-effective fiber supply suitable for production of premium packaging materials. There are a number of limitations related to the use of these non-GAAP and non-IFRSmeasures. As previously announced, on December 19, 2021, Verso Corporation, a Delaware corporation (the "Company" or "Verso"), entered into an Agreement and Plan of Merger (the "Merger Agreement") with BillerudKorsns Inc., a Delaware corporation ("Parent"), West Acquisition Merger Sub Inc., a Delaware corporation and a wholly . That is why we are proactively taking the lead in the transition to a circular society with packaging solutions that are renewable, recyclable and climate efficient. Verso's actual actions and results may differ materially from what is expressed or implied by these statements due to a variety of factors, including those risks and uncertainties listed from time to time in Verso's filings with the Securities and Exchange Commission. Promptly after filing its definitive proxy statement with the SEC, Verso will mail its definitive proxy statement and a proxy card to Versos stockholders entitled to vote at a special meeting relating to the proposed transaction, seeking their approval of the respective transaction-related proposals. Loss on the sale of our Duluth Mill in May 2021. For more information, visit us online at versoco.com. The acquisition will be primarily financed by BillerudKorsns through increased debt and operating cash flow. PDF We challenge conventional packaging for a sustainable future - Billerud 0.12%: 36,411: To register, please dial in 10 minutes before the conference call begins. STOCKHOLDERS AND SECURITY HOLDERS OF VERSO ARE URGED TO READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THETRANSACTION THAT VERSO OR BILLERUDKORSNAS WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT VERSO, THE TRANSACTION AND THE OTHER TRANSACTIONS CONTEMPLATED BY THE MERGER AGREEMENT THAT HOLDERS OF VERSOS SECURITIES SHOULD CONSIDER BEFORE MAKING ANY DECISION REGARDING VOTING. The 2020 Annual Report and the information on our website are not a part of this Proxy Statement. Except as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Our full Board believes the proposed merger maximizes value for shareholders, who will receive a significant premium and immediate and certain value for their shares of Verso. "As we look toward the future, we believe our pending combination with BillerudKorsns will enable our customers and employees to benefit from enhanced opportunities as part of a larger, stronger organization. PDF B. Riley Investor Conference Verso's specialty paper products include release liner papers and label face stock for pressure sensitive, glue-applied and laminate applications. Verso Corporation to Announce Fourth Quarter and Full Year 2021 Stock Information Corporate Governance Acquisition of Norbord News Releases RSS ALERTS View by Year May 23, 2023 West Fraser Announces Appointment Of Eric L. Butler To Board of. 2021 Outlook The Company is providing the following outlook for full year 2021: COVID-19 Pandemic The COVID-19 Pandemic has impacted our operations and financial results since the first quarter of 2020 and continues to have an impact on us. UK number: +44 333 300 0804 They include, for example, statements relating to Verso's business and operating outlook for 2021, statements regarding Verso's ability to support its customers and return value to shareholders, and statements regarding Verso's order rates, and price increases. Investors and security holders may obtain copies of these documents and any other documents filed with or furnished to the SEC by Verso free of charge through the website maintained by the SEC at www.sec.gov, or on Verso's investor website, https://investor.versoco.com/. BillerudKorsns estimates that the investment for the conversion project will be up to SEK 9 billion, whereof around two thirds to be invested up to 2025 and the remainder up to 2029. The special meeting of shareholders to vote on the Merger will be held virtually via live webcast at 10:00 a.m. Eastern Time on March, 11, 2022, and can be accessed by stockholders of record as of the close of business on the record date established for the special meeting by visitingwww.virtualshareholdermeeting.com/VRS2022SM. Skadden, Arps, Slate, Meagher & Flom LLP serves as U.S. legal counsel and Cederquist serves as Swedish legal counsel to BillerudKorsns. Verso Announces Stockholder Approval of Merger Agreement with About VersoVERSO CORPORATION is a leading American owned and operated producer ofgraphic, specialty and packaging paper and market pulp, with a long-standing reputation for quality and reliability. Verso Corp (VRS) went up by +0.04% in the last 365 days - wallmine For 2021, professional fees and other charges associated with strategic. from 8 AM - 9 PM ET. For 2020, charges are associated with the closure of our Luke Mill in June 2019. There continues to be significant uncertainties associated with the COVID-19 Pandemic, including with respect to the resurgence of new variants of the virus; whether the vaccines introduced to combat the virus are not effective or public acceptance of such vaccines is not widespread; and the impact of COVID-19 on economic conditions, including with respect to labor market conditions, economic activity, consumer behavior, supply chain shortages and disruptions and inflationary pressure; all of which could have a material impact on our business, financial position, results of operations and cash flows. Net salesNet sales for the nine months ended September 30, 2021 decreased $95 million, or 9%, compared to the nine months ended September 30, 2020, attributable to favorable price/mix of $72 million, which was more than offset by a decrease of $167 million, or 16%, primarily related to our sold Duluth, Androscoggin and Stevens Point mills and idled Wisconsin Rapids mill. 2021 ANNUAL MEETING OF STOCKHOLDERS . MIAMISBURG, Ohio, Nov. 5, 2021 /PRNewswire/ --Verso Corporation (NYSE: VRS) today reported financial results for the third quarter of 2021 and announced that its Board of Directors has declared a quarterly cash dividend for the quarter ending December 31, 2021, in the amount of $0.10 per each outstanding share of Verso's Class A common stock. We also plan to sequentially transform part of the business into paperboard production while continuing to serve the U.S. customers. STOCKHOLDERS OF VERSO ARE URGED TO READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE MERGER THAT VERSO HAS FILED OR MAY FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT VERSO, THE MERGER AND THE OTHER TRANSACTIONS CONTEMPLATED BY THE MERGER AGREEMENT THAT HOLDERS OF VERSO'S SECURITIES SHOULD CONSIDER BEFORE MAKING ANY DECISION REGARDING VOTING. Additional Information and Where to Find It. The replay will be available starting at 11 a.m. (EDT) Friday, November 5, 2021, and will remain available until December 3, 2021. Information about Verso's directors and executive officers is available in the Definitive Proxy and Verso's proxy statement dated on March 30, 2021 for its 2021 Annual Meeting of Stockholders. The forward-looking statements should be read in conjunction with the other cautionary statements that are included elsewhere, including BillerudKorsns most recent annual and quarterly reports available atwww.billerudkorsnas.comand Verso's most recent annual report on Form 10-K, quarterly report filed on Form 10-Q, and reports filed on Form 8-K, and any other documents that BillerudKorsns or Verso has made publicly available or Verso has filed with the SEC, respectively. ET) and the After Hours Market (4:00-8:00 p.m. This press release is not a substitute for the proxy statement or for any other document that Verso or BillerudKorsns may file with the SEC and send to Versos stockholders in connection with the proposed transaction. Verso's graphic paper products are designed primarily for commercial printing, advertising and marketing applications, including direct mail, catalogs, corporate collateral, books and magazines. Promptly after filing its definitive proxy statement with the SEC, Verso will mail its definitive proxy statement and a proxy card to Verso's stockholders entitled to vote at a special meeting relating to the proposed merger, seeking their approval of the respective merger-related proposals. Operating income (loss) Operating income was $35 million for the three months ended September 30, 2021, an increase of $79 million when compared to an operating loss of $44 million for the three months ended September 30, 2020. 5 Best Bank ETFs to Buy Now Want Clean Energy? We will obtain cost-effective production of coated virgin fiber material in the Midwestern United States. The forward-looking statements include statements relating to the expected characteristics and financial results of the combined company; expected growth of our paperboard business; expected financing; expected benefits of the proposed transaction; expected EBITDA of the combined entity; BillerudKorsns plans with respect to Verso; its assets, including the timing and cost of the conversion; and expected timing of closing of the proposed transaction and satisfaction of closing conditions, including receipt of applicable regulatory approvals. You may obtain free copies of these documents from Verso using the sources indicated above. Forward-looking statements involve substantial risks, known and unknown, uncertainties, assumptions and other factors that may cause actual results, performance or achievements to differ materially from future results expressed or implied by such forward-looking statements including, but not limited to, the occurrence of any event, change or other circumstances that could give rise to the right of one or both of Verso or BillerudKorsnsto terminate the merger agreement; the ability to obtain regulatory approvals and/or meet other closing conditions to the proposed merger on a timely basis or at all; the ability to obtain approval by Verso stockholders; difficulties and delays in integrating Verso's and BillerudKorsns'businesses; risks that the proposed merger disrupts Verso or BillerudKorsnscurrent plans and operations; failing to realize anticipated synergies, cost savings and other anticipated benefits of the proposed merger when expected or at all; potential adverse reactions or changes to business relationships resulting from the announcement or completion of the proposed merger; the risk that unexpected costs will be incurred; uncertainties as to BillerudKorsns'ability to obtain financing in order to consummate the merger; the ability of Verso or BillerudKorsnsto retain and hire key personnel; the diversion of management's attention from ongoing business operations; uncertainty as to the price of Verso common stock; the outcome of any legal proceedings that may be instituted against Verso, BillerudKorsnsor their respective directors and officers; changes in global, political, economic, business, competitive, market and regulatory forces; changes in laws and regulations or the interpretation or enforcement thereof; changes in rates and policies; future business acquisitions or disposals; competitive developments; and the timing and occurrence (or non-occurrence) of other events or circumstances that may be beyond Verso's and BillerudKorsns'control. Private Securities Litigation Reform Act of 1995. When typing in this field, a list of search results will appear and be automatically updated as you type. BillerudKorsns TransactionAs announced on December 19, 2021, Verso has entered into a definitive merger agreement (the "Merger Agreement") under which BillerudKorsns AB ("BillerudKorsns") has agreed to acquire all of the outstanding shares of Verso for a purchase price of $27.00 per share in cash (the "Merger"). . Additional Information and Where to Find ItIn connection with the proposed merger, on February 8, 2022, Verso filed with the SEC and furnished to its stockholders a definitive proxy statement on Schedule 14A (the "Proxy Statement") and accompanying WHITE proxy card, as well as other relevant documents regarding the proposed merger. BillerudKorsns and its directors and certain of its executive officers and employees may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction under the rules of the SEC. , . In connection with the proposed merger, Verso expects to file with the SEC and furnish to its stockholders a proxy statement on Schedule 14A, as well as other relevant documents regarding the proposed merger. On the other hand they divested 18.07k shares, for US$251k. We are grateful for BillerudKorsns' partnership over the past several months in reaching this compelling transaction, particularly amidst an uncertain and restrictive pandemic-related travel environment. BillerudKorsns aims to build one of the most cost-efficient and sustainable paperboard platforms in North America by converting several of Verso's assets into paperboard machines while maintaining Verso's position as a quality and cost leader in specialty and coated freesheet paper. ET). For the twelve months ended 30 September 2021, Versos net sales amounted to USD 1 264 million. BillerudKorsns will maintain its financial targets as communicated at the Capital Market Day in November 2021. Amortization of noncash incentive compensation. Please go to this link at least one hour before the call and follow the instructions to register, download and install any necessary audio/video software. , . These documents are available free of charge from the sources indicated above, and from Verso by going to its investor relations page on its corporate website at https://investor.versoco.com/. Analysts and investors may access the live conference call only by dialing 888-317-6003 (U.S. toll-free), 866-284-3684 (Canada toll-free) or 412-317-6061 (international) and referencing elite . The Special Committee is diligently continuing its work. A special meeting of Verso's shareholders is expected to be convened following the mailing to Verso's shareholders of a proxy statement for the transaction. Forward-looking statements , , , , , , Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. and from Verso by going to its investor relations page on its corporate website at www.investor.versoco.com. Unsolicited Acquisition Proposal from Atlas Holdings LLC On September 21, 2021, Verso announced that the Company entered into a confidentiality agreement with Atlas Holdings LLC, or "Atlas," and communicated to Atlas that the previously disclosed $20.00 per share all-cash offer to acquire Verso was insufficient and that Verso would only consider a potential transaction if the offer meaningfully increased. Verso Corp (VRS) 10K Annual Reports & 10Q SEC Filings - Last10K.com Investors and security holders may obtain copies of these documents and any other documents filed with or furnished to the SEC by Versofree of charge through the website maintained by the SEC at www.sec.gov, or on Verso's investorwebsite, https://investor.versoco.com/. For 2021, charges are associated with the closure of our Luke Mill, the closure of our Duluth Mill and ofthe No. Verso Corporation. ", Mr. Nebel continued, "This agreement follows careful consideration and negotiation led by the special committee of our Board which was formed following receipt of the unsolicited proposal earlier this year. Verso Corp Warrants (15/07/2023) (VRSZW) - Nasdaq Verso'sgraphic paper productsare designed primarily for commercial printing, advertising and marketing applications, including direct mail, catalogs, corporate collateral, books and magazines. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, qualification or exemption under the securities laws of any such jurisdiction. PDF Second Quarter2021 Financial Results Net sales of $328 million, a 4% . For more information, see www.versoco.com , . Verso is a leading producer of coated papers in North America with reported net sales for the last twelve months ended 30 September 2021 of USD 1 264 million and adjusted EBITDA of USD 158 million. STOCKHOLDERS AND SECURITY HOLDERS OF VERSO ARE URGED TO READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE MERGER THAT VERSO WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT VERSO, THE MERGER AND THE OTHER TRANSACTIONS CONTEMPLATED BY THE MERGER AGREEMENT THAT HOLDERS OF VERSO'S SECURITIES SHOULD CONSIDER BEFORE MAKING ANY DECISION REGARDING VOTING. En vous inscrivant la newsletter, vous consentez la rception de contenus de notre part. 877.855.7243. www.versoco.com. Net sales of $328 million, a 4% increase over . 8540 Gander Creek Drive. The purchase price corresponds to an enterprise value / adjusted EBITDA multiple of approximately 6x for the last twelve months ended 30 September 2021. Forward-Looking StatementsIn this press release, all statements that are not purely historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The plan is to convert Versos largest facility, its Escanaba mill, into a world-class, sustainable, fully integrated paperboard production site. VERSO CORPORATION is a leading North American producer of graphic and specialty papers, packaging and pulp. BillerudKorsns Board of Directors intends to propose to a general meeting of BillerudKorsns shareholders that the Board of Directors be authorized to resolve upon a rights issue of up to SEK 3 500 million. Versos Board of Directors, acting upon the recommendation of a special committee, has unanimously approved, and resolved to recommend the transaction to Versos shareholders. MIAMISBURG, Ohio, Feb. 21, 2022 /PRNewswire/ -- Verso Corporation (NYSE: VRS) today announced that it will release its fourth quarter and full year 2021 financial results before the market opens . For 2021, professional fees and other charges associated with strategic initiatives, including activities in connection with the unsolicited acquisition proposal from Atlas Holdings LLC, and other miscellaneous adjustments. During June 2022 Billerud implements a rights issue. Data & Signals Historical Prices Predictions News Profile Premium NYSE: VRS Verso Corporation Stock Forecast Updated Wed, Aug 17, 2022 3m (0%) 12m (42.71%) Bollinger Bands RSI low/high Values: [ 20 - 80 ] * StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior. BillerudKorsns aims to build one of the most cost-efficient and sustainable paperboard platforms in North America by converting several of Versos assets into paperboard machines while maintaining its position as quality and cost leader in speciality and coated woodfree paper. When typing in this field, a list of search results will appear and be automatically updated as you type. Because EBITDA and Adjusted EBITDA are not measurements determined in accordance with Generally Accepted Accounting Principles (GAAP) and are susceptible to varying calculations, EBITDA and Adjusted EBITDA, as presented, may not be comparable to similarly titled measures of other companies. Actual results could vary materially depending on risks and uncertainties that may affect Verso and its business. We use EBITDA and Adjusted EBITDA as a way of evaluating our performance relative to that of our peers and to assess compliance with our credit facilities. Income tax expense (benefit) Income tax benefit of $17 million for the three months ended September 30, 2021 reflects estimated net tax benefit for the period, including $2 million of tax benefit from the release of valuation allowance against state tax credits. MIAMISBURG, Ohio, March 11, 2022 /PRNewswire/ -- Verso Corporation (NYSE: VRS) ("Verso") announced that, at a special meeting of stockholders held today . The acquisition and transformation will be financed through a combination of rights issue, additional debt and operating cash flow. Sign up to get PRNs top stories and curated news delivered to your inbox weekly! EBITDA Adj. We believe that the supplemental adjustments applied in calculating Adjusted EBITDA are reasonable and appropriate to provide additional information to investors. Some of these forward-looking statements can be identified by terms and phrases such as "may", "expects", "intends", "anticipates", "plans", "projects", "estimates" and the negatives thereof and analogues or similar expressions. This transaction builds upon our considerable progress and better positions the combined company to invest in our North American manufacturing capability, provide high-quality paper products to customers and accelerate growth. Verso Stock Forecast, Price & News (NYSE:VRS) - MarketBeat Verso Corporation Reports Third Quarter 2021 Financial Results and Verso is listed on the New York Stock Exchange. Total company sales volume was down from 392 thousand tons during the three months ended December 31, 2020, to 341 thousand tons during the same period of 2021, primarily attributable to our sold Duluth and idled Wisconsin Rapids mills. The transaction is expected to close during the second quarter of 2022, subject to the approval of Versos shareholders, as well as receipt of applicable regulatory approvals and satisfaction of other customary closing conditions. Operating results for the three months ended December 31, 2021 were positively impacted by: Operating results for the three months ended December 31, 2021 were negatively impacted by: Other (income) expenseOther income for the three months ended December 31, 2021 and 2020 includes income of $7 million and $5 million, respectively, associated primarily with the non-operating components of net periodic pension cost (income).
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