Simpson Thacher Represents H.I.G. Capital in the Completed Chapter 11 Restructuring of Mobileum Inc.
09.16.24
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Simpson Thacher represented funds advised by H.I.G. Capital LLC (“H.I.G.”) in its capacity as majority equity holder of Mobileum Inc. (collectively with certain of its affiliates, “Mobileum”), in Mobileum’s recently completed Chapter 11 bankruptcy cases. Mobileum filed for protection under Chapter 11 of the Bankruptcy Code on July 23, 2024 and emerged with its completed restructuring on September 12, 2024. Through its financial restructuring, Mobileum eliminated approximately $530 million of debt and secured access to $60 million of new financing. Mobileum, H.I.G. and certain consenting creditors entered into a restructuring support agreement at the commencement of the Chapter 11 Cases pursuant to which H.I.G. and the creditors supported Mobileum’s restructuring efforts and agreed to participate in a litigation trust to pursue additional recoveries on behalf of Mobileum and H.I.G.
Mobileum is a leading provider of Telecom analytics solutions for roaming, core network, security, risk management, domestic and international connectivity testing, and customer intelligence.
The Simpson Thacher team included Sunny Singh, Ilaria Olivero, Dov Gottlieb and Colin Manchester (Restructuring); Alan Turner (Litigation); and Jonathan Goldstein and Eva Gao (Tax).