As previously disclosed, Pyxus International, Inc. (“Pyxus”) and its subsidiaries Alliance One International, LLC, Alliance One North America, LLC, Alliance One Specialty Products, LLC and GSP Properties, LLC filed voluntary petitions under chapter 11 of the U.S. Bankruptcy Code (the “Bankruptcy Code”) in the U.S. Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”) to implement a prepackaged chapter 11 plan of reorganization to effectuate a financial restructuring of the company’s debt. On August 21, 2020, the Bankruptcy Court entered an order (the “Confirmation Order”) pursuant to the Bankruptcy Code, which approved and confirmed the Amended Joint Prepackaged Chapter 11 Plan of Reorganization of Pyxus International, Inc. and Its Affiliated Debtors (as supplemented and amended, the “Plan”). Pursuant to the Confirmation Order, on the Effective Date of the Plan, each current member of the board of directors of Pyxus other than J. Pieter Sikkel shall be removed and shall be deemed to have resigned, and Mr. Sikkel or his named designee or successor shall be the sole member of the board of directors of Pyxus with full authority to direct the actions of Pyxus.
Pyxus International, Inc. is an agricultural company. The Company is a provider of sustainable and traceable products and ingredients. The Company operates through its Leaf segment. Its core business includes tobacco leaf merchant business, purchasing, processing, packing, storing and shipping tobacco to manufacturers of cigarettes and other consumer tobacco products around the world. Its leaf tobacco operations deal primarily in flue-cured, burley, and oriental tobaccos that are used in international cigarette brands. It processes tobacco in Company-owned and third-party facilities around the world, including in Argentina, Brazil, China, Guatemala, India, Indonesia, Jordan, Macedonia, Malawi, Tanzania, Thailand, Turkey, United States, and Zimbabwe. Throughout the entire production process, from seed through processing and final shipment, its SENTRI traceability platform provides clear visibility into how products are produced throughout the supply chain, supporting product integrity.