On January 31, 2020, Verso Corporation, Lapetus Capital II LLC, and Blue Wolf Capital Advisors IV, LLC announced that they have reached an agreement to settle the pending proxy contest with respect to the annual meeting and certain other matters. Lapetus Capital stated that pursuant to the cooperation agreement, the Company, Atlas and Blue Wolf have agreed to take all action necessary for the Board to consist of the following immediately subsequent to the 2019 annual meeting of stockholders: Sean Erwin, Jeffrey Kirt, Marvin Cooper, Randy Nebel, Nancy Taylor, Robert Beckler, and Adam St. John. Lapetus Capital added that pursuant to the cooperation agreement, Atlas and Blue Wolf have agreed to vote for the Company’s pending sale of its Androscoggin and Stevens Point mills to Pixelle Specialty Solutions LLC. As SCW Capital Management intended the Atlas Holdings and Blue Wolf Capital nominees; Marvin D. Cooper, Sean T. Erwin, and Jeffrey Emil Kirt were elected to the Board of the Company.