Perseon filed with the U.S. Bankruptcy Court a Disclosure Statement for the Debtor’s Plan pursuant to Chapter 11 of the U.S. Bankruptcy Code.
According to documents filed with the Court, holders of priority and general unsecured claims will be paid full in cash; holders of common stock and private warrant interests will receive their pro rata share of the disbursing agent assets and holders of public warrant interests will be cancelled. The Disclosure Statement notes, “All amounts necessary for the Debtor (on the Effective Date) or the Disbursing Agent, (after the Effective Date), as applicable, to make payments or distributions pursuant to this Plan shall be obtained from, among other things, the Cash raised or held by the Debtor.”
Court-filed documents, “On and after the Effective Date, the Disbursing Agent will implement and oversee the Wind Down pursuant to any provision of the Plan and any applicable orders of the Bankruptcy Court, and the Disbursing Agent shall have the power and authority to take any action necessary to wind down and dissolve the Debtor.”
Read more bankruptcy news.
The post Perseon Disclosure Statement Filed appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.