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Chatham Asset Management issues letter to Rayonier Advanced Materials' shareholders reaffirming intention to withhold its vote against two long-tenured board members; Chatham reiterates need for board to immediately repay debt, refinance 2024 senior notes

Rayonier Advanced Materials says Chatham's refinancing proposal and withholding vote against two directors not in stockholders' best interest; Rayonier has refreshed board with five new directors since 2018, recommends stockholders vote for its nominees

Chatham Asset Management, in open letter to Rayonier Advanced Materials shareholders, states intent to withhold vote against two board members at May 16 shareholders meeting; Chatham maintains Rayonier needs refreshed board rather than 'poison pill' plan

Chatham Asset Management writes to Rayonier Advanced Materials board accusing it of adopting a 'poison pill' rather than engage with Chatham on its suggested terms for refinancing; Chatham maintains its refinancing proposal would benefit all stockholders

Rayonier Advanced Materials says proposal in Chatham Asset Management's Mar. 17 letter to independent members of company’s board is not in best interest of company or its stockholders; RYAM is confident it can obtain refinancing on more attractive terms

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