HUDSON, Ohio — Less than three months after it filed for Chapter 11 bankruptcy protection, Hudson-based Diebold Nixdorf has announced that it has completed its financial restructuring. Shares of the company will begin trading on the New York Stock Exchange (NYSE) under the symbol "DBD" starting on Monday, August 14.
According to a release, "Diebold Nixdorf’s common stock that was outstanding prior to the restructuring process was canceled upon the company’s emergence from the Chapter 11 restructuring process, and holders thereof will not receive any recovery. In connection with that cancellation, such common stock will be delisted from the Frankfurt Stock Exchange."
"This is a landmark day for Diebold Nixdorf and begins a new chapter as we have successfully completed our debt restructuring and emerge as a financially stronger company," said Diebold Nixdorf chairman, president and chief executive officer Octavio Marquez in a statement. "Now, we are well-positioned to drive solid performance with an optimized balance sheet, more liquidity and less debt – creating the foundation needed for long-term success. We thank our banking and lending partners for their support through the process. We are very excited about what we will be able to accomplish moving forward, as we deliver best-in-class solutions to our customers and create value for our stakeholders, focused on positioning Diebold Nixdorf for success with continued investments in our people and products."
In late May, Diebold Nixdorf filed for Chapter 11, announce that its restructuring was "expected to significantly reduce debt and leverage levels and provide substantial additional liquidity to support seamless ongoing operations and establish a long-term, sustainable capital structure for the Company." The company's debtors planned to seek the approval of a $1.25 billion debtor-in-possession term loan credit facility as a part of the Chapter 11 filing.
A publicly traded company, Diebold Nixdorf "automates, digitizes and transforms the way people bank and shop" through the creation of transaction systems such as ATMs and security equipment. The company relocated from its previous headquarters in Green to Hudson in 2021.
Of Diebold Nixdorf's roughly 21,000 employees, around 1,200 live in Northeast Ohio.