The US Bankruptcy Court approved the third amended joint plan of liquidation of Casa Systems, Inc. on June 5, 2024. The debtor has filed its third amended plan in the Court on June 3, 2024. As per the amended plan, Administrative Claims, Professional Fee Claims, Priority Tax Claims, U.S. Trustee Statutory Fees, Other Secured Claims, and Other Priority Claims shall be paid full in cash before effective date.

Term Loan Facility Claims of $300 million are expected to recover 17.9% and will receive its pro rata share of the Term Loan Recovery. General Unsecured Claims are expected to recover 8% to 25% and shall receive pro rata share of the GUC Recovery Pool. Intercompany claims and Section 510(b) claims shall not receive any distribution under the plan.

Existing Equity Interests, and Intercompany Interests shall be cancelled, released, and discharged. The plan shall be funded through cash in hand and sale of assets.