The US Bankruptcy Court approved the modified first amended plan of reorganization of Egalet Corporation, along with its affiliates, on January 14, 2019. The debtor has filed its modified first amended plan in the Court on January 10, 2019. As per the amended plan, administrative claims, US Trustee claims, professional fee claims and priority tax claims will be paid in full in cash. Other priority claims and other secured claims will be recovered in full in the form of cash. First lien secured notes claims of $80 million shall receive its Pro Rata share of $50 million in aggregate principal amount of the Series A-1 Notes, (ii) the First Lien Note Equity Distribution, (iii) $20 million in cash, less the aggregate amount of Adequate Protection Payments (as defined in the Cash Collateral Orders) actually received by holders of First Lien Secured Notes Claims pursuant to the Cash Collateral Orders and (iv) cash in an amount equal to the fees and expenses of the First Lien Secured Notes Trustee. Allowed Convertible Notes Claim shall receive its Pro Rata share (based on the aggregate principal amount of Convertible Notes Claims) of a number of shares of New Egalet Common Stock representing, in the aggregate, 31.62% of the New Egalet Common Stock as of the Effective Date and if the Debtors elect to consummate the Rights Offering and such holder is an Eligible Holder, the Subscription Rights. Subordinated claims and equity interests shall be cancelled. Intercompany interests shall be reinstated. The plan will be funded through cash in hand, issuance of series A-1 notes in the amount of $50 million, issuance of series A-2 notes in the amount of $45 million and issuance of new common stock.