Bondoro Insights Weekly Docket Update

This Week's Key Filings

GST, Inc. (Filed Dec. 11)

Case Summary – Published Dec. 22

• Grand Slam Track has filed for Chapter 11 bankruptcy following a failed capital raise and the threat of an involuntary proceeding, seeking to stabilize operations and preserve the value of its intellectual property and athlete contracts.

Artstock d/b/a Artist & Craftsman Supply (Filed Dec. 21)

Case Summary – Published Dec. 22

• Artstock (dba Artist & Craftsman Supply) has filed for Chapter 11 bankruptcy amid economic headwinds and unyielding lending restrictions, seeking to maintain operations funded by the use of cash collateral.

North Country HealthCare, Inc. (Filed Dec. 19)

Case Summary – Published Dec. 21

• North Country HealthCare has filed for Chapter 11 bankruptcy to address a liquidity crisis triggered by accounting irregularities and a failed municipal bond offering, pursuing an asset sale to El Rio Health backed by DIP financing from The NARBHA Institute and Northern Arizona Healthcare.

57 Concrete LLC (Filed Dec. 19)

Case Summary – Published Dec. 21

• 57 Concrete has filed for Chapter 11 bankruptcy following a 60% decline in residential utilization amid labor shortages driven by heightened immigration enforcement in the Rio Grande Valley.

Flipcause, Inc. (Filed Dec. 19)

Case Summary – Published Dec. 21

• Flipcause has filed for Chapter 11 bankruptcy following a failed sale process, a regulatory dispute with the California Attorney General, and the freezing of its payment processing accounts by Stripe.

Bidding Procedures / APA Summary – Published Dec. 21

• Flipcause filed a motion to approve bidding procedures for a sale of substantially all assets, scheduling a Feb. 25 bid deadline and March 3 auction, while seeking authorization to designate a stalking horse bidder by Feb. 4 with protections including a break-up fee of up to 3% and a $75,000 expense reimbursement.

SpiriTrust Lutheran (Filed Nov. 21)

DIP Terms – Published Dec. 20

• SpiriTrust Lutheran obtained final approval for a $12.2 million super-priority DIP facility from M&T Bank, comprised of $6.7 million in new money and $5.5 million in line of credit availability, priced at 12% with a lender-option PIK feature and maturing upon the earlier of March 31, 2026, or the sale of six specified properties.

Azul S.A. (Filed May 28)

Plan / RSA Terms – Published Dec. 20

• Azul’s confirmed reorganization plan facilitates a comprehensive recapitalization centered on a $950 million equity rights offering supported by strategic partners United and American Airlines, whereby first and second lien noteholders exchange their claims for 97% and 3% of the reorganized equity, respectively, while general unsecured creditors elect between a cash pool recovery or interests in a trust holding warrants and EBITDAR-linked contingent value rights.

Worldwide Machinery Group, Inc. (Filed Sep. 11)

Plan Terms – Published Dec. 19

• Worldwide Machinery Group’s plan implements a global settlement anchored by the consummated going-concern sale to Macquarie Equipment Capital and Diversified, providing for a cash recovery to ABL lenders with a full deficiency waiver and a post-effective-date wind-down of remaining estate assets, including contemplated third-party litigation funding.

Clearside Biomedical, Inc. (Filed Nov. 23)

Bidding Procedures / APA Summary – Published Dec. 19

• Clearside Biomedical obtained approval of bidding procedures to sell substantially all assets, authorizing the designation of a stalking horse bidder eligible for a $100,000 expense reimbursement ahead of a Jan. 12, 2026, bid deadline and Jan. 20, 2026, auction.

Conscious Content Media, Inc. (Filed Dec. 17)

DIP Terms – Published Dec. 19

• Conscious Content Media obtained interim approval for a $10 million [212]MEDIA-led DIP facility that structures a $6.76 million rollup of prepetition bridge loans alongside a $3.24 million new-money component, carrying 14% cash or PIK interest and featuring a lender option to convert obligations into Series A preferred equity upon a plan effective date required within 100 days.

Case Summary – Published Dec. 18

• Conscious Content Media has filed for Chapter 11 bankruptcy following the collapse of a consensual out-of-court restructuring, seeking to eliminate approximately $106.5 million in debt through a pre-negotiated reorganization backed by a Restructuring Support Agreement.

Ashley Stewart, Inc. (Filed Dec. 17)

Case Summary – Published Dec. 18

• Ashley Stewart has filed for Chapter 11 bankruptcy amid operational failures and alleged insider misconduct that precipitated a disputed UCC Article 9 foreclosure sale, seeking to void the asset transfer to G Ashley Inc. while asserting continued control over the company’s cash flows and critical infrastructure.

PrimaLend Capital Partners, LP (Filed Oct. 22)

DIP Terms – Published Dec. 18

• PrimaLend Capital Partners obtained final approval for a $28 million CIBC Bank USA-led DIP facility that structures a $21 million rollup of prepetition debt at a 3:1 ratio against a $7 million new-money revolving component, carrying SOFR+7.50% interest on new funds and maturing on February 27, 2026.

Zynex, Inc. (Filed Dec. 15)

Bidding Procedures / APA Summary – Published Dec. 18

• Zynex filed a motion to establish bidding procedures for an equity transaction, designating an entity formed by DIP lenders pursuant to an RSA as the stalking horse bidder with rights to credit bid at least $49.6 million ahead of a Feb. 9, 2026 bid deadline and Feb. 13, 2026 auction.

DIP Terms – Published Dec. 18

• Zynex obtained interim approval for a $22.3 million new-money DIP facility, split between a $10.15 million initial draw and two subsequent conditional advances, priced at 10% PIK interest and structured with a 2.0x minimum return on funded capital payable upon a sale or credit bid.

Luminar Technologies, Inc. (Filed Dec. 15)

Bidding Procedures / APA Summary – Published Dec. 18

• Luminar Technologies filed an emergency motion to establish bidding procedures for the sale of its LSI and LiDAR business segments, designating Quantum Computing, Inc. as the stalking horse bidder for the LSI assets with a $110 million cash bid, while seeking authority to designate a stalking horse for the LiDAR assets ahead of a Jan. 9, 2026 bid deadline and Jan. 15, 2026 auction.

Buckingham Senior Living Community, Inc. (Filed Nov. 17)

Bidding Procedures / APA Summary – Published Dec. 18

• Buckingham Senior Living Community obtained approval of bidding procedures to sell substantially all assets, designating Focus SH Acquisitions as the stalking horse bidder with a $112.75 million aggregate offer ahead of a Jan. 16 bid deadline and Jan. 21 auction.

GBI Services, LLC (Filed Nov. 21)

Bidding Procedures / APA Summary – Published Dec. 18

• GBI Services filed a motion to establish bidding procedures for a sale of substantially all assets, requesting authority to designate a stalking horse bidder ahead of a Feb. 2, 2026 bid deadline and Feb. 4, 2026 auction.

Ample, Inc. (Filed Dec. 16)

DIP Terms – Published Dec. 18

• Ample obtained interim approval for a $6 million senior secured DIP facility from Twelve Bridge Capital that provides immediate access to $2.5 million with the remaining $3.5 million contingent on final relief.

Kleopatra Finco S.à r.l. (Filed Nov. 4)

Plan / RSA Terms – Published Dec. 17

• Kleopatra Finco’s confirmed prepackaged reorganization plan executes a balance sheet restructuring supported by CastleKnight and SVP Funds, whereby first lien lenders equitize their claims to take control of the reorganized entity and fund the exit via new financing facilities, while general unsecured claims are unimpaired and the debtor’s receivables factoring program is reinstated to preserve operational continuity.

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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