Company: SGBAF
Filing Date: 2025-01-17
Form Type: DRS/A
Source: 0000950123-25-000378
Chunk: 358

Company: SES S.A.
Filing Date: 2025-01-17
Form: DRS/A
Chunk 358
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 Initiative (“ASU 2023-06”) to clarify or improve disclosure and presentation requirements of a variety of topics, which will allow
users to more easily compare entities subject to the Securities and Exchange Commission’s (“SEC”) existing disclosures with those entities that were not previously subject to the requirements, and align the requirements in the FASB
accounting standard codification with the SEC’s regulations. ASU 2023-06 is effective for the Company two years after the related disclosure is removed from the SEC regulations. We are in the process of
evaluating the impact that ASU 2023-06 will have on our consolidated financial statements and associated disclosures.

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”), to address investor requests for more transparency about income tax information through improvements to income tax disclosures primarily related to the rate
reconciliation and income taxes paid information. ASU 2023-09 will be effective for the Company for annual periods beginning after December 15, 2025, though early adoption is permitted. We are in the
process of evaluating the impact that ASU 2023-09 will have on our consolidated financial statements and associated disclosures.

Subsequent Events

The Company has
evaluated subsequent events from the balance sheet date through November 4, 2024, the date at which the consolidated financial statements were available to be issued.

Note 2—Emergence from Chapter 11 Proceedings and Other Related Matters

Emergence from Voluntary Reorganization under Chapter 11

On May 13, 2020, the Debtors commenced the Chapter 11 Cases under the Bankruptcy Code in the Bankruptcy Court.

On February 11, 2021, the Debtors entered into a plan support agreement with certain of the Debtors’ prepetition secured and
unsecured creditors. After entry into such plan support agreement, the Debtors continued to engage with their stakeholders, and on August 24, 2021, the Debtors entered into an amended plan support agreement (together with all exhibits and
schedules thereto, the “PSA”) with certain of the Debtors’ prepetition secured and unsecured creditors (the “Consenting Creditors” and together with the Debtors, the “PSA Parties”). The PSA contains certain
covenants on the part of the PSA Parties, including, but not limited