EaglePicher Technologies Celebrates One Billion Hours in Space
Astronauts Buzz Aldrin and Bruce McCandless in Attendance
Joplin, Missouri, September 12, 2006 – EaglePicher Technologies, LLC (EaglePicher) today announced its one-billionth hour in space with 100 percent mission success. For 29 years EaglePicher nickel-hydrogen cells have provided power for military and commercial applications, including communications satellites, deep space probes and the International Space Station. Astronauts Bruce McCandless and Buzz Aldrin were on hand to mark this important milestone. “This is a great day for our team,” said Steve Westfall, EaglePicher Technologies president and CEO. “We have provided the power source for such things as the Mars Missions, the Hubble Space Telescope and the International Space Station. In fact, the space shuttle Atlantis, which is today docked to the International Space Station is equipped with backup power in its cabin provided by EaglePicher and is deploying a second set of EaglePicher battery cells which will double the station’s current ability to power the station during eclipse,” added Westfall.
EaglePicher Completes $345 Million Financing
Phoenix, Arizona – January 3, 2006 -- EaglePicher Incorporated (“EaglePicher” or the “Company”) announced that it has completed a $345 million financing transaction arranged by Goldman Sachs Credit Partners L.P., the proceeds of which were used to repay all obligations under an existing debtor-in-possession credit facility and EaglePicher’s pre-petition senior secured credit facility. The new credit facilities consist of a $230 million first lien facility, which includes a $70 million revolving credit facility and a $160 million term loan, a $65 million second lien term loan and a $50 million third lien term loan. The new credit facilities are convertible into financing pursuant to a plan of reorganization acceptable to the agents for the lenders and satisfaction of other conditions, including court approval.
Steven E. Westfall Named President of EaglePicher Technologies, LLC
Accounting Function Moved to Joplin, Missouri
Phoenix, Arizona, December 1, 2005 – EaglePicher Technologies, LLC today announced that Steven E. Westfall has been appointed President. Mr. Westfall has P&L accountability for the businesses that comprise the division including; EaglePicher Defense and Space, EaglePicher Pharmaceutical (where he continues as President), EaglePicher Medical Energy Products, EaglePicher Boron, EaglePicher Distributed Products and the EaglePicher Horizon Joint Venture. As a result of his expanded role, Mr. Westfall will now have responsibility for functional leadership for EaglePicher Technologies as well, including Legal and Human Resources.
EaglePicher Obtains Commitments for Debtor-in-Possession Financing
Stuart B. Gleichenhaus named Interim Chairman, President and CEO
David L. Treadwell named Chief Operating Officer
Phoenix, Arizona – November 4, 2005 -- EaglePicher Incorporated (“EaglePicher” or the “Company”) announced that it has obtained a commitment from Goldman Sachs Credit Partners L.P. for $295 million of senior secured debtor-inpossession financing and a commitment from Angelo, Gordon & Co., L.P. and Tennenbaum Capital Partners, LLC for $50 million of junior secured debtor-inpossession financing, subject to normal closing conditions. The proceeds of this financing will be used to repay in full EaglePicher’s existing bank debt and its current debtor-in-possession financing and is convertible into financing for the reorganized company upon court approval of a plan of reorganization and satisfaction of other conditions. Angelo, Gordon and Tennenbaum are also significant holders of the Company’s 9.75% Senior Notes. This financing is subject to court approval and is expected to be completed by the end of 2005.
EaglePicher Signs Final DIP Financing Agreement
Phoenix, Arizona – August 1, 2005 -- EaglePicher Holdings, Inc., and EaglePicher Incorporated (collectively “EaglePicher or the “Company”) announced today that it has entered into a final debtor-in-possession (“DIP”) financing agreement with a bank group led by Harris N.A. This credit facility increases the Company’s interim DIP credit facility from $50 million to $65 million and extends the maturity to August 1, 2006. The final DIP credit facility received interim Court approval on July 29, 2005 and the Company expects to receive final approval from the Court on August 23, 2005. The funds will be used to meet operating needs during its restructuring process.
EaglePicher Receives Extension of Interim DIP Financing Agreement
Phoenix, Ariz. – May 25 -- EaglePicher Holdings, Inc., and EaglePicher Incorporated (collectively “EaglePicher”) announced today it had received court approval to extend the use of its interim $50 million debtor-in-possession (DIP) financing from a bank group led by Harris Trust and Savings Bank through June 24, 2005. The final DIP hearing has been rescheduled for June 20, 2005. The Company required additional time to update its 2005 forecasts and in turn, give its financial advisors, banks and the unsecured creditors’ committee adequate time to analyze the updates. At the same time, the Company continues to negotiate a final DIP loan agreement and intends to present the financing package at its June 20 hearing.
EaglePicher Reiterates Commitment to Supply the Medical Industry and Projects Current Supply to Continue without Interruption
PHOENIX, Arizona, April 26, 2005 – EaglePicher Commercial Power Solutions today reiterated their commitment to supply the medical industry with innovative power systems and confirmed their ability to meet the demand for battery solutions. The company projected current supply and key long term agreements with customers such as Advanced Neuromodulation Systems Inc. (ANS) will continue without interruption. The statement was made as part of a proactive communication effort regarding the April 11 voluntary filing to reorganize under Chapter 11 by EaglePicher Holding, Inc., and EaglePicher Incorporated.
EaglePicher Receives Court Approval On “First-Day Motions” In Its Voluntary Chapter 11 Filing
Obtains Approval Of Its Interim DIP Financing Commitment
Phoenix, Ariz. – April 12 -- EaglePicher Holdings, Inc., and EaglePicher Incorporated (collectively “EaglePicher”) announced today it had received court approval of an interim $50 million debtor-in-possession (DIP) financing from a bank group led by Harris Trust and Savings Bank, subject to certain conditions and limitations. The final DIP hearing has been scheduled for May 18, 2005, at which time the interim facility will expire. EaglePicher is negotiating a permanent DIP facility with Harris, and expects to complete the facility within that time frame.
EaglePicher Files Chapter 11
Company will Continue to Operate While it Seeks Buyers for Certain of its Operating Units Receives $50 Million DIP Financing Commitment
Phoenix, Ariz. – April 11 -- EaglePicher Holdings, Inc., and EaglePicher Incorporated (collectively “EaglePicher”) announced today that, in order to implement their strategic initiatives and position the company for the future, they and several of their affiliates have voluntarily filed to reorganize under Chapter 11 of the Bankruptcy Code.
EAGLEPICHER HOLDINGS, INC. AND EAGLEPICHER INCORPORATED PROVIDE RESPONSES TO INVESTOR QUESTIONS
PHOENIX, Arizona, March 31, 2005 – EaglePicher Holdings, Inc. (“EP Holdings”) and EaglePicher Incorporated (“EPI” and together with EP Holdings, “EaglePicher”) announced that they have posted on their web site responses to questions submitted following their March 24, 2005 investor teleconference.