NewPage Holdings Inc. ("NewPage") today announced that its board of directors has declared a special distribution of $34.29 per share of common stock, payable on February 21, 2014. Stockholders of record on the NewPage books at the close of business on February 14, 2014 are entitled to the special distribution.
The payment of the special distribution is one in a series of events to be completed in connection with the merger announced January 6, 2014 between Verso Paper Corporation and NewPage. In a separate release today and also in connection with the merger, NewPage announced that its wholly-owned subsidiary, NewPage Corporation, closed on financings consisting of a new $750 million Term Loan Facility and a new $350 million ABL Facility, the proceeds of which will be used in part to fund the special distribution.
Computershare is acting as company agent in the payment of the special distribution, which will be paid via check.