GT Advanced Technologies Inc. announced the fourth extension of the solicitation period in connection with its previously announced proposed debtor-in-possession term loan facility (the "DIP Loan Facility"). Following the extension, the solicitation period will expire at 5:00 p.m., New York City time, on June 10, 2015.

The solicitation process is being conducted in connection with a commitment letter (the "Commitment Letter"), dated March 17, 2015 between the company and certain holders of the Convertible Notes (the "Backstop Lenders"). The company was authorized to undertake the solicitation process pursuant to an order of the Bankruptcy Court entered on April 2, 2015. On April 29, 2015, the company and the Backstop Lenders entered into a second amendment to the Commitment Letter by which, among other things, the Backstop Lenders agreed to an extension of their commitment to provide the DIP Loan Facility to an outside date of June 15, 2015, subject to certain terms and conditions as described more fully in the Form 8-K filed by the company on April 30, 2015.

The company anticipates that the DIP Loan Facility will provide for loans in an initial aggregate principal amount of $95.0 million, and will provide for, or permit, a letter of credit facility providing for the issuance of letters of credit with the aggregate face amounts outstanding not to exceed $15.0 million.

The company anticipates using the proceeds of the DIP Facility to fund working capital requirements, pay costs, fees and expenses incurred in connection with the DIP Loan Facility and the transactions contemplated thereby and pay other costs and expenses with respect to the administration of the company's and certain of its subsidiaries' Chapter 11 cases.