ProSomnus (OSAP) has shared an announcement.
ProSomnus, Inc. has voluntarily initiated a restructuring process through a Restructuring Support Agreement (RSA) with key stakeholders, involving a pre-negotiated chapter 11 bankruptcy plan to reorganize its finances. The plan includes securing $20 million in capital, maintaining obligations to critical parties, and proposing a new equity raise post-restructuring for at least $9 million. The RSA outlines the provision of a debtor-in-possession facility and the issuance of new common equity, but success is not guaranteed and current equity holders may not recover their investments. The company’s attempt to restructure is pivotal for its future operations and the potential recovery for senior note holders, yet carries risks and uncertainties that could impact the final outcome.
Learn more about OSAP stock on TipRanks’ Stock Analysis page.
