Atlantis Plastics Inc (CE) (ATPL) Cotización

ATPL SEC Suspension:

http://www.sec.gov/litigation/suspensions/2014/34-71465.pdf

Order:

http://www.sec.gov/litigation/suspensions/2014/34-71465-o.pdf

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Some unusual activity on low vol

ATPL News

Atlantis Plastics, Inc. Announces Forbearance Agreement with Lenders
Tuesday March 25, 6:00 pm ET

ATLANTA--(BUSINESS WIRE)--Atlantis Plastics, Inc. (NASDAQ:ATPL - News) (the “Company”), today announced that effective March 21, 2008 it entered into an amendment to the Company’s “first lien” Credit Agreement dated as of March 25, 2005 (the “Amendment”). In the Amendment, the lenders provide the Company with up to $10 million of additional funding and agreed to forbear from exercising their rights and remedies against the Company with respect to certain specified defaults until July 19, 2008, unless sooner terminated in the event of a forbearance default. The Amendment is designed to provide the Company with the liquidity to allow it to complete one of the strategic alternatives the Company is currently exploring.

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Among other things, the Amendment requires that the Company continue the previously announced engagement of Houlihan, Lokey, Howard & Zukin to evaluate certain strategic alternatives, including a possible sale of the Company. The Company continues to explore a variety of strategic alternatives, including a sale, additional financing, refinancing or recapitalization, but has not reached any agreement or understanding for any such transaction.

Bud Philbrook, Chief Executive Officer and President of Atlantis Plastics, stated, “We are very pleased with the support of our lenders as we work through this very challenging period. We are confident that the additional liquidity provided under the amendment will provide the capital required to support our manufacturing operations as we work through the Company’s strategic alternatives. The Company remains committed to continuing to provide the highest level of service to its customers and to maintaining its strong supplier relationships.”

The Company cannot provide any assurance that its efforts will result in a transaction or other alternative that will be acceptable to the Company. In the event these alternatives are not available to the Company, the Company would be forced to pursue other measures to address its liquidity needs.

Atlantis Plastics, Inc. is a leading U.S. manufacturer of polyethylene stretch and custom films and molded plastic products. Stretch films are used to wrap pallets of materials for shipping or storage. Custom films are made-to-order specialty film products used in the industrial and packaging markets. Atlantis’ injection molded and profile extruded plastic products are used primarily in the appliance, automotive, agricultural, building supply, and recreational vehicle industries.

Statements herein regarding the Company’s expectations and possible future transactions constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. Such statements are based on the Company’s current expectations and beliefs and are subject to certain risks and uncertainties that could cause actual events to differ materially from those contained in any forward-looking statement. There are many factors that impact these forward-looking statements that cannot be predicted accurately. These risks and uncertainties include, but are not limited to, fluctuations in plastic resin prices, the Company’s default under its Credit Facilities and its high debt level, demand fluctuations in the end markets served by the Company, the risks inherent in the process of delisting and deregistering shares, as well as other “Risk Factors” set forth in the Company’s Form 10-K for fiscal 2006 and Form 10-Q for the quarter ended September 30, 2007 filed with the Securities and Exchange Commission.

For more information, please visit www.atlantisstock.com.


Contact:

Atlantis Plastics, Inc., Atlanta
Paul G. Saari, Chief Financial Officer, 800-497-7659