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P10 Industries Final RSA Approval Granted

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The U.S. Bankruptcy Court issued a final order approving P10 Industries’ expedited motion for an order authorizing the assumption of restructuring support agreements with 210/P10 Investment and Langley Holdings.

As previously reported, “In connection with the bankruptcy, the Company entered into a restructuring support agreement (the ‘210 RSA’) with 210/P10 Investment (‘210 Capital’) as well as a restructuring support agreement with Langley Holdings (the acquirer of P10 Industries’ former operations (the ‘Langley RSA’). Subject to the terms and conditions of the Plan and the 210 RSA, 210 Capital will invest $4.654 million cash in P10 Industries in exchange for shares of the Company’s common stock representing approximately 48% of the Company.”

Court-filed documents continue, “In addition, 210 Capital will provide up to $10 million of financing to be used for acquisitions (subject to the terms and conditions of the plan and the 210 RSA) as P10 Industries implements its strategy of monetizing its intellectual property and seeking investments in companies that generate profit and positive cash flows, thus creating long-term stockholder value.”

Read more P10 bankruptcy news.

The post P10 Industries Final RSA Approval Granted appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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