UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01 Regulation FD Disclosure.
On July 14, 2021, Verso Corporation (“Verso”) issued a press release confirming that Verso has received an unsolicited proposal from Atlas Holdings LLC regarding a potential transaction to acquire all outstanding shares of Class A common stock of Verso. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference in its entirety.
The information, including the exhibit attached hereto, in this Current Report on Form 8-K shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as otherwise expressly stated in such filing.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
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Description |
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99.1 |
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104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Date: July 14, 2021 |
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VERSO CORPORATION |
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By: |
/s/ Kevin M. Kuznicki |
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Kevin M. Kuznicki |
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Senior Vice President, General Counsel and Secretary |
Exhibit 99.1
Verso Corporation Confirms Receipt of Unsolicited Acquisition Proposal from Atlas Holdings LLC
MIAMISBURG, Ohio, July 14, 2021 /PRNewswire/ -- Verso Corporation (NYSE: VRS) confirmed that it has received an unsolicited proposal from Atlas Holdings LLC regarding a potential transaction to acquire all outstanding shares of Class A common stock of Verso for $20.00 per share in cash.
Consistent with its fiduciary responsibilities, Verso's Board of Directors, in consultation with its financial and legal advisors, will carefully review and evaluate the proposal to determine the course of action that it believes is in the best interests of Verso and its stockholders. Verso stockholders need take no action at this time.
There can be no assurance that any negotiations between Verso and Atlas Holdings LLC regarding this proposal will take place, and if such negotiations do take place, there can be no assurance that any transaction with Atlas Holdings LLC will occur or be consummated. Verso does not intend to make any additional comments regarding the proposal or any other related matter or potential transaction unless and until it is appropriate to do so or a formal agreement has been reached.
About Verso Corporation
Verso Corporation is a leading American owned and operated producer of graphic, specialty and packaging paper and market pulp, with a long-standing reputation for quality and reliability. Verso's graphic paper products are designed primarily for commercial printing, advertising and marketing applications, including direct mail, catalogs, corporate collateral, books and magazines. Verso's specialty paper products include release liner papers and label face stock for pressure sensitive, glue-applied and laminate applications. Verso produces packaging paper used in higher-end packaging and printing applications such as greeting cards, book covers, folders, labels and point-of-purchase displays. Verso also makes market pulp used in printing, writing, specialty and packaging papers, facial and toilet tissue, and paper towels. For more information, visit us online at
versoco.com.
Forward-Looking Statements
In 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. Forward-looking statements include information regarding the unsolicited acquisition proposal and the response thereto, and other forward-looking statements may be identified by the words "believe," "expect," "anticipate," "project," "plan," "estimate," "intend," "potential" and other similar expressions. Forward-looking statements are based on currently available business, economic, financial, and other information and reflect management's current beliefs, expectations, and views with respect to future developments and their potential effects on Verso. Actual results could vary materially
depending on risks and uncertainties that may affect Verso and its business. 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 uncertainties as to whether an agreement relating to any possible transaction will be negotiated and executed, uncertainties as to whether any possible transaction will be completed and the other risks and uncertainties listed in Verso's Annual Report on Form 10-K for the year ended December 31, 2020 and filed with the Securities and Exchange Commission (the "SEC") on March 1, 2021, as such risks and uncertainties may be updated from time to time in Verso's other filings with the SEC. Verso assumes no obligation to update any forward-looking statement made in this press release to reflect subsequent events or circumstances or actual
outcomes.
CONTACT: Investors Contact: investor.relations@versoco.com, 937-528-3220; Media Contact: Shawn Hall, Director, Communications, 937-528-3700, shawn.hall@versoco.com
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Document and Entity Information |
Jul. 14, 2021 |
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Cover [Abstract] | |
Entity Registrant Name | VERSO CORP |
Amendment Flag | false |
Entity Central Index Key | 0001421182 |
Document Type | 8-K |
Document Period End Date | Jul. 14, 2021 |
Entity Incorporation State or Country Code | DE |
Entity File Number | 001-34056 |
Entity Tax Identification Number | 75-3217389 |
Entity Address, Address Line One | 8540 Gander Creek Drive |
Entity Address, City or Town | Miamisburg |
Entity Address, State or Province | OH |
Entity Address, Postal Zip Code | 45342 |
City Area Code | (877) |
Local Phone Number | 855-7243 |
Written Communications | false |
Soliciting Material | false |
Pre Commencement Tender Offer | false |
Pre Commencement Issuer Tender Offer | false |
Entity Emerging Growth Company | false |
Security 12b Title | Class A common stock, par value $0.01 per share |
Trading Symbol | VRS |
Security Exchange Name | NYSE |
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