Ascend Performance Materials Announces Confirmation of Restructuring Plan

December 9, 2025

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.