Air Methods, a provider of air medical services in the U.S., emerged from Chapter 11 bankruptcy. As a result of the restructuring process, Air Methods reduced its total debt by approximately $1.7 billion.
Core Scientific, a provider of blockchain computing data centers and software solutions, reached an agreement in principle with all key stakeholders on the terms of a global settlement of its Chapter bankruptcy 11 cases.
Impel Pharmaceuticals is pursuing a sale of the company and has entered into an agreement with JN BIDCO to serve as the “stalking horse” bidder to acquire the company and its assets.
Electric vehicle company Bird Global entered into a financial restructuring process. Bird’s first and second lien lenders also entered into a restructuring support agreement with the company, with MidCap Financial providing $25 million in new debtor-in-possession financing.
Ebix reached a “stalking horse” agreement to sell its North American Life and Annuity assets to Zinnia, an Eldridge business and life insurance and annuity technology and service company, as part of its efforts to strengthen its balance sheet and position the company for sustainable growth.
PREIT, a real estate investment trust, received commitments for $135 million in debtor-in-possession and exit revolver financing from a group of investors, led by Redwood Capital Management and Nut Tree Capital Management, as part of its reorganization plan.
Near Intelligence, a privacy-led data intelligence company, and certain of its subsidiaries voluntarily initiated Chapter 11 bankruptcy proceedings in the U.S. Bankruptcy Court for the District of Delaware and will seek to sell its assets through a court supervised sales process.
Output Services Group, a provider of print and digital billing and payment solutions, completed its reorganization process and emerged from Chapter 11 bankruptcy. As part of the transaction, the company has access to a $50 million revolving credit facility from MidCap Financial.
Troika Media Group, a consumer engagement and customer acquisition group, entered into a restructuring support agreement with Blue Torch Finance pursuant to which Blue Torch will acquire substantially all of the assets of the company via a stalking horse credit bid.
SSG Capital Advisors served as the investment banker to a commercial bakery in the company’s recapitalization. The transaction provided additional liquidity to support growth and strategic initiatives and closed in November.