Ascend Performance Materials Announces Confirmation of Restructuring Plan

Company expected to emerge from Chapter 11 in coming weeks as financially stronger company

HOUSTON, Dec. 9, 2025 /PRNewswire/ -- Ascend Performance Materials, a leading producer of high-performance and durable engineered materials for everyday essentials and new technologies, announced today the United States Bankruptcy Court for the Southern District of Texas has confirmed the Company's Plan of Reorganization (the "Plan"). This milestone clears the path for Ascend to successfully emerge from Chapter 11 in the coming weeks with significantly less debt and a stronger capital structure for future growth.  

"We are excited to have reached this milestone," said Phil McDivitt, President and Chief Executive Officer of Ascend. "Since beginning this process, our people have worked hard to strengthen the business and ensure that Ascend is well positioned to accelerate profitable growth while maintaining its commitments to safety, quality, and performance. I am grateful to our talented employees for their efforts, our customers and vendors for their partnership, and our lenders who supported the Plan. We look forward to completing this process very soon and advancing our leadership in high-performance materials." 

The Company will complete its financial restructuring and emerge from Chapter 11 after the transactions contemplated by the Plan have been finalized, which is expected to occur by year's end. The Company is operating as usual as it takes these final steps towards emergence and continues to manufacture and produce high-performance materials that improve the quality of life today and inspire a better tomorrow.

Additional Information

Additional information about Ascend's restructuring is available at www.ascendmaterials.com/strengthening-ascend. Bankruptcy Court filings and other information regarding the case can be found at https://dm.epiq11.com/Ascend or by contacting Epiq, the Company's noticing and claims agent, at (888) 890-9917 (for toll-free U.S. calls) or +1 (971) 385-8728 (for tolled international calls). 

Ascend is advised in this matter by Kirkland & Ellis LLP as legal counsel, FTI Consulting as financial advisor, and PJT Partners as investment banker. The Ad Hoc Group of Term Loan Lenders to the Company is advised by Gibson, Dunn & Crutcher LLP as legal counsel and Evercore Group L.L.C. as investment banker.

About Ascend Performance Materials

Ascend Performance Materials makes high-performance materials for everyday essentials and new technologies. Our focus is on improving quality of life and inspiring a better tomorrow through innovation. Based in Houston, Texas, and with regional offices in Shanghai, Brussels, and Detroit, we are a fully integrated material solutions provider with global manufacturing facilities in North America, Europe, and Asia. Our global workforce makes the materials used to make safer vehicles, cleaner energy, better medical devices, smarter appliances, and longer-lasting apparel and consumer goods. We are committed to safety, sustainability, and the success of our customers and our communities.

Ascend Media

Osama Khalifa
[email protected]

Rachel Chesley / Rose Temple
[email protected]

View original content to download multimedia:https://www.prnewswire.com/news-releases/ascend-performance-materials-announces-confirmation-of-restructuring-plan-302637257.html

SOURCE Ascend Performance Materials