Marin Software voluntarily initiated a “pre-negotiated” Chapter 11 case in Delaware’s US Bankruptcy Court as part of the company’s proposed financial reorganization transaction.
- Transaction is between Marin and strategic investor Kaxxa Holdings, which will provide $5.5m funding upon consummation of the restructuring
- Marin to use funding pay known creditors in full and provide a distribution to stockholders
- Marin to remain fully operational during the reorganization
- Company sees emerging from the court-supervised reorganization process in approximately 60 days
To view the source of this information click
To contact the reporter on this story:
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.