Proceeds from the rights offering would go to repay various creditors, including more junior second-lien creditors that would no longer receive equity in the reorganized company.
Creditors committed to investing in the rights offering are GSO Capital Partners, BlueMountain Capital, George Karfunkel, United Equities Group and Contrarian Capital, Kodak said.
Kodak sought protection from creditors in January 2012 because of high pension costs and after falling many years behind rivals in embracing digital technology in its photography business.
The company has since sold a variety of assets.
The case is In re: Eastman Kodak Co, U.S. Bankruptcy Court, Southern District of New York, No. 12-10202.
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