Bondoro Insights Weekly Docket Update

This Week's Key Filings

Ample, Inc. (Filed Dec. 16)

• Case Summary – Published Dec. 16
  • Ample has filed for Chapter 11 bankruptcy amid a contraction in the global EV sector and regulatory hurdles that hindered commercial scaling, pursuing a sale of its modular battery swapping business backed by $6 million in new-money DIP financing from Twelve Bridge Capital.
• DIP Terms – Published Dec. 16
  • Ample filed a motion for interim approval of a $6 million super-priority priming DIP facility from Twelve Bridge Capital that provides $2.5 million in immediate liquidity with the balance subject to final orders, carrying 13% PIK interest and a 3.9% commitment fee while maturing on April 3, 2026.

Luminar Technologies, Inc. (Filed Dec. 15)

• Case Summary – Published Dec. 16
  • Luminar Technologies has filed for Chapter 11 bankruptcy following the collapse of key OEM partnerships and resulting operational losses, seeking to facilitate a sale of its semiconductor business and liquidate its remaining LiDAR operations with the support of an ad hoc group of secured noteholders.
• Bidding Procedures / SPA Summary - Published Dec. 16
  • Luminar Technologies filed a notice attaching a stock purchase agreement and proposed bidding procedures for the sale of its semiconductor and LiDAR business segments, designating Quantum Computing Inc. as the stalking horse bidder for the LSI equity pursuant to a $110 million cash transaction ahead of a Jan. 9 bid deadline and Jan. 15 auction, while outlining a process to designate a separate stalking horse bidder for the LiDAR assets by Dec. 23.

Zynex, Inc. (Filed Dec. 15)

• Case Summary – Published Dec. 16
  • Zynex has filed for Chapter 11 bankruptcy following a liquidity crisis triggered by the suspension of Tricare payments and mounting regulatory scrutiny, seeking to resolve litigation and pursue a sale process backed by DIP financing from an ad hoc group of noteholders and a $2 million commitment from its CEO.
• RSA Terms – Published Dec. 16
  • Zynex’s restructuring support agreement contemplates a Chapter 11 sale process backed by a $22.3 million DIP facility, whereby the financing parties serve as a stalking horse to credit-bid their obligations for 100% of the reorganized equity, limiting convertible noteholders to excess auction proceeds while conditioning the plan on binding settlements with the DOJ and SEC.
• DIP Terms – Published Dec. 16
  • Zynex seeks interim approval for a $22.3 million delayed-draw DIP facility, providing $10.15 million in immediate liquidity to fund a sale process and structured with 10% PIK interest, a $5 million backstop fee and a 2.0x minimum return on invested capital.

Dynacq Healthcare, Inc. (Filed Dec. 8)

• DIP Terms – Published Dec. 16
  • Dynacq Healthcare obtained interim approval for a $5 million new-money DIP facility from Caliburn Capital to fund a Section 363 sale process, split between a $2 million initial draw and a $3 million tranche subject to final orders, priced at 15% interest and carrying a 5% commitment fee.
• Case Summary – Published Dec. 15
  • Dynacq Healthcare has filed for Chapter 11 bankruptcy to address substantial operating losses stemming from protracted stop-loss litigation and the loss of a key surgical group, pursuing a sale of its assets.

Oroville Hospital (Filed Dec. 8)

• DIP Terms – Published Dec. 16
  • Oroville Hospital obtained interim approval for a $40 million super-priority delayed-draw term loan facility from UMB Bank as bond trustee, making up to $16 million available immediately, which is funded with $16 million in new money from bondholders and $24 million from existing indenture funds, carries 10.75% PIK interest with a 3% exit fee, and supports a sale process targeting a Dec. 31, 2026, closing.
• Case Summary – Published Dec. 9
  • Oroville Hospital has filed for Chapter 11 bankruptcy following the acceleration of its Series 2019 Bonds and a subsequent cash sweep amid construction delays on its Tower Project, pursuing a sale of substantially all assets backed by DIP financing.

Norcold LLC (Filed Nov. 3)

• DIP Terms – Published Dec. 16
  • Norcold obtained final approval for a $13 million superpriority priming DIP facility from Dave Carter & Associates, structured as a multiple-draw revolver available in weekly draws that carries 10% PIK interest and matures 120 days post-petition.

iRobot Corporation (Filed Dec. 14)

• Case Summary – Published Dec. 15
  • iRobot has filed for Chapter 11 bankruptcy amid intense competition, macroeconomic pressures, and a terminated merger with Amazon, seeking to implement a prepackaged restructuring supported by its primary manufacturer and first lien lender, Picea Robotics.
• RSA Terms – Published Dec. 15
  • iRobot's prepackaged Chapter 11 plan, supported by an RSA with sole first lien lender and key supplier Picea Robotics, centers on a debt-for-equity swap whereby Picea would acquire 100% of the reorganized equity by converting its first lien term loans into a 95% stake and its $74 million in supply-related unsecured claims into the remaining 5%, while also committing to a new supply agreement to ensure operational continuity.

Tedder Industries, LLC (Filed Dec. 8)

• Case Summary – Published Dec. 15
  • Tedder Industries has filed for Chapter 11 bankruptcy to address its inability to service approximately $25 million in secured debt, pursuing a section 363 sale of its assets supported by its secured lender and majority equity holder, Main Street Capital Corporation.

ModivCare Inc. (Filed Aug. 20)

• RSA Terms – Published Dec. 15
  • ModivCare’s confirmed reorganization plan effectuates a balance sheet restructuring supported by a $250 million exit revolver, whereby First Lien lenders convert their claims into exit term loans and 98% of the new common equity, while general unsecured creditors and subordinated noteholders receive warrants and subscription rights to a $200 million equity rights offering used to fund cash distributions to senior lenders.

Corporate Air, LLC (Filed Sep. 29)

• Plan / RSA Terms – Published Dec. 15
  • Corporate Air's confirmed chapter 11 plan facilitates a sale of substantially all assets to its sponsor and DIP lender Vantage AGC, whereby Vantage equitizes its DIP facility for control of the reorganized enterprise while general unsecured creditors look to recoveries from a litigation trust seeded with $500,000 cash and causes of action against non-released former insiders.

Groff Tractor Mid Atlantic, LLC (Filed Oct. 14)

• DIP Terms – Published Dec. 11
  • Groff Tractor filed a motion seeking interim approval for a $15.55 million M&T Bank-led DIP facility that structures a $12.85 million creeping roll-up of prepetition obligations alongside a $2.7 million new-money component priced at Base Rate plus 7%, with access to commitments beyond an initial $1.3 million interim draw conditioned on the entry of an acceptable sale order.

Navidea Biopharmaceuticals, Inc. (Filed Oct. 1)

• Bidding Procedures / APA Summary – Published Dec. 11
  • Navidea Biopharmaceuticals obtained approval of bidding procedures to pursue a dual-track sale of substantially all assets or plan sponsorship transaction, establishing a Jan. 20, 2026 bid deadline and Jan. 22, 2026 auction, with qualified bids required to satisfy pre-petition secured debt and DIP obligations in full subject to the DIP lender’s right to credit bid.

Linqto Texas, LLC (Filed Jul. 7)

• Plan Terms – Published Dec. 11
  • Linqto’s proposed plan orchestrates a multi-vehicle wind-down centering on the creation of a Wind-Down Trust, a Liquidating Trust, and a registered Closed-End Fund to monetize assets including Ripple Tender Proceeds, whereby customers may contribute interests in exchange for publicly traded shares or Liquidshares equity under a committee settlement that automatically allows recission claims subject to a 33% distribution cap, all funded by $60 million in new money DIP financing from Sandton Capital Solutions.

Clearside Biomedical, Inc. (Filed Nov. 23)

• Bidding Procedures / APA Summary – Published Dec. 10
  • Clearside Biomedical filed a motion to establish bidding procedures for a sale of substantially all assets, including its proprietary SCS injection platform, proposing a Dec. 29 bid deadline and Jan. 5 auction.

Pine Gate Renewables, LLC (Filed Nov. 6)

• DIP Terms – Published Dec. 10
  • Pine Gate Renewables obtained final approval for an aggregate $1.66 billion super-priority DIP financing package comprised of a $551.5 million Brookfield term loan, a $374 million Carlyle notes facility, and a $730.8 million Fundamental term loan, which collectively structure $250.4 million in new-money liquidity alongside a $1.41 billion cashless roll-up of prepetition debt, with proceeds strictly segregated by collateral silo and prepetition interest payable in kind.

PrimaLend Capital Partners, LP (Filed Oct. 22)

• Bidding Procedures / APA Summary – Published Dec. 9
  • PrimaLend Capital Partners filed an emergency motion to establish bidding procedures for a sale of substantially all assets, designating credit bids from First Lien PCP Lenders and Amarillo National Bank as the starting bids for their respective collateral ahead of a Jan. 7 bid deadline and Jan. 9 auction.
• Plan / RSA Terms – Published Dec. 9
  • PrimaLend Capital Partners’ proposed Chapter 11 plan contemplates the credit-bid sale of assets to First Lien PCP Lenders and Amarillo National Bank subject to an alternative transaction toggle, whereby unsecured noteholder recoveries are channeled through a Liquidating Trust seeded with a $350,000 cash carve-out and litigation claims against non-released insiders.

Ascend Performance Materials Holdings Inc. (Filed Apr. 21)

• Plan Terms – Published Dec. 9
  • Ascend’s confirmed Fourth Amended Joint Chapter 11 Plan facilitates a debt-for-equity restructuring driven by the conversion of DIP Term Loan claims into 99.7% of the reorganized equity, supported by a fully backstopped $235 million debt rights offering and various takeback debt instruments.

About Bondoro Insights Summaries

Our goal with Bondoro Insights is to provide you with faster, broader coverage on active Chapter 11 cases. These summaries are generated by Bondoro's proprietary AI, tuned on our historical coverage and validated against source filings. While accuracy is a priority, they are intended for immediate informational purposes, may contain errors, and are not a substitute for professional or legal advice. Please refer to the source filings for definitive information.

This AI-powered coverage is designed to supplement our comprehensive, analyst-written case summaries.

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