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Maggie Toms is an associate in the business restructuring group in Ropes & Gray’s New York office. Her practice focuses on all aspects of corporate restructuring, bankruptcy, and insolvency proceedings, including advising public and private companies, boards, ad hoc groups, and committees in both in-court chapter 11 proceedings and out-of-court restructurings. Maggie’s experience spans a broad range of industries, including technology, life sciences, health care, medical devices, media & entertainment, and retail.
Experience
- Wolfspeed, Inc.: Represented an ad hoc group of holders of $2.4 billion of convertible notes issued by Wolfspeed, Inc. (NYSE: WOLF), a global leader in silicon carbide technology, in connection with its confirmed prepackaged chapter 11 plan of reorganization. This transaction involves approximately $6.7 billion of debt and includes a restructuring support agreement entered into with the company’s key stakeholders. Convertible noteholders represented by Ropes & Gray will take majority ownership of the equity and have backstopped new capital in the form of $275 million of new second lien convertible notes.
- Altice France: Represented Altice France, a leading telecommunications provider, in its chapter 15 proceedings to seek recognition in the United States of its historic French restructuring involving more than €20 billion of debt.
- 8th Avenue Food & Provisions, Inc.: Represented 8th Avenue Food & Provisions, Inc., a leading manufacturer and seller of private label food products, in its acquisition by Post Holdings, Inc. (NYSE: POST). The transaction will result in the full satisfaction of approximately $815 million of funded debt obligations of 8th Avenue.
- Hooters of America, LLC: Represented Hooters of America, LLC, an iconic casual dining and sports entertainment chain, and its affiliated debtors in their pending chapter 11 cases involving the restructuring of approximately $380 million of funded debt. Hooters’ chapter 11 cases are the first whole business securitization filings of their kind and are supported by $40 million of debtor-in-possession financing and a Restructuring Support Agreement with near unanimous support from its key stakeholders.
- Brown University Health: Represented Brown University Health, a leading academic healthcare system based in Providence, Rhode Island, in its purchase of Saint Anne’s Hospital in Fall River and Morton Hospital in Taunton, Massachusetts, for $175 million in the Steward Health Care System bankruptcy.
- Exactech, Inc.: Represented Exactech, Inc., a leading manufacturer and developer of orthopedic implant devices, surgical instruments, and AI-driven smart technologies for hospitals and physicians, and its affiliated debtors in a successful asset sale to an entity affiliated with a group of secured lenders through voluntary chapter 11 proceedings, involving the restructuring of more than $350 million of prepetition debt and liabilities, securing approximately $160 million in debtor in possession credit financing, and addressing billions in alleged tort liabilities.
- Amylyx Pharmaceuticals: Represented Amylyx Pharmaceuticals, a global pharmaceutical company focused on developing treatments for neurodegenerative diseases, in its successful bid of more than $35.1 million to purchase the avexitide assets of Eiger BioPharmaceuticals, Inc. in the sale of Eiger’s assets pursuant to Section 363 of the bankruptcy code.
- Shoes For Crews: Represented Shoes for Crews, a leading producer of non-slip shoes, in a sale to a group of its secured lenders through voluntary chapter 11 proceedings and in obtaining approximately $30 million in DIP financing from the secured lenders acquiring the business.