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SCHEDULE Filed 2025-01-22 Event 2025-01-17 SEC 0001104659-25-005306 →

Glendon Capital Management LP Independence Contract Drilling, Inc.

Stake: Shares: CUSIP: 453415309 Class: Common Stock, $0.01 par value per share

Item 4 — Purpose of Transaction

Item 4 of the Prior Schedule 13D is hereby amended and supplemented by adding the following paragraph immediately before the last paragraph of Item 4: Cancellation of Convertible Notes On January 9, 2025, the Bankruptcy Court entered its order confirming the Reorganization Plan. On January 17, 2025 (the "Effective Date"), the Reorganization Plan became effective and the Issuer emerged from chapter 11 bankruptcy ("Reorganized ICD"). Pursuant to the Reorganization Plan, and in reliance on the exemption from registration requirements of the Securities Act of 1933, as amended, provided by Section 1145 of the Bankruptcy Code, 100% of the Notes were cancelled and the holders of the Notes, including G2, received their pro rata share of (i) 100% of the common stock of Reorganized ICD authorized to be issued and outstanding on or after the Effective Date (the "New Common Stock"), subject to dilution on account of any equity issued pursuant to the Management Incentive Plan (as defined in the Reorganization Plan), and (ii) on account of the additional Notes issued pursuant to the Accordion Facility, $7.5 million, plus the amount of accrued and unpaid interest on such additional Notes, in principal amount of loans issued under Reorganized ICD's Exit Term Loan Facility (as defined in the Reorganization Plan). In particular, G2 received approximately 49.9% of the shares of the New Common Stock in exchange for the cancellation of its Notes. From and after the Effective Date, Reorganized ICD intends to operate as a private company and expects to de-register its existing equity securities, and terminate its reporting obligations, under the Exchange Act of 1934, as amended.

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2 13D/G filings on this issuer
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Other 13D/G Filings on Independence Contract Drilling, Inc.

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2025-01-22 SCHEDULE MSD Partners, L.P. view →

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