MRC Global Comments on Litigation Filed by Cornell Capital

Apr 25, 2023

HOUSTON, April 25, 2023 (GLOBE NEWSWIRE) -- MRC Global Inc. (NYSE: MRC) today commented on a lawsuit filed by Mario Investments LLC, an affiliate of Cornell Capital LLC, the sole holder of MRC Global’s 6.50% Series A Convertible Perpetual Preferred Stock. The lawsuit, brought against the company in the Delaware Court of Chancery, attempts to prevent MRC Global from moving forward with its previously announced refinancing of its senior secured Term Loan B. The company disputes Cornell Capital’s claim in the lawsuit that Cornell Capital has a right to consent to the refinancing.

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