Cano Health Sinks After Bankruptcy Filing, Restructure Pact (2)

(Updates with shares move.)

Cano Health plunged as much as 62% in premarket trading Monday after the company filed for Chapter 11 bankruptcy and said it entered into a restructuring support agreement with a significant majority of lenders to substantially reduce its debt. Shares of the health firm are halted due to regulatory concerns.

• Filed for Chapter 11 in the US Bankruptcy Court in the District of Delaware, according to a separate court filing
  • Estimated liabilities: $1 billion - $10 billion
  • Estimated assets: $1 billion - $10 billion
• Lenders in pact hold ~86% of co.’s secured revolving and term loan ...