Prysm filed for Chapter 11 bankruptcy in the District of Delaware Court, according to filings.
- Plan includes a prenegotiated and prepackaged business arrangement with $12m cash from plan sponsor and up to $3m DIP funding, according to the
declaration - Co. makes large-format displays using proprietary Laser Phosphor Display or LPD technology
- Prysm has never achieved profitability on a GAAP or cash-flow basis
- Since December 2015, operations were financed by issuing senior secured promissory notes with $265.8m principal and interest outstanding as of June 30
- Multiple efforts to secure new investments or an acquirer didn’t result in a transaction
- The case ...
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