Bondoro Insights: Weekly Docket Update

This Week's Key Filings

STG Logistics, Inc. (Filed Jan. 12)

• Case Summary – Published Jan. 13
  • STG Logistics has filed for Chapter 11 bankruptcy to pursue a dual-track sale or recapitalization, following a severe freight market downturn and liquidity constraints despite a prior refinancing, supported by $294 million in DIP financing from existing lenders.
• Plan/ RSA Terms – Published Jan. 13
  • STG Logistics’ restructuring support agreement provides for a dual-track Chapter 11 process under which the Debtors may pursue either a sale or a Plan-based recapitalization that equitizes DIP, FLFO, and FLSO claims, with New Money DIP claims receiving 57.5% of the reorganized equity, FLFO term loan claims receiving 40.0% of the reorganized equity and takeback debt, and FLSO term loan claims receiving 2.5% of the reorganized equity, in each case subject to dilution, while junior claims and existing equity are cancelled.
• DIP Terms – Published Jan. 12
  • STG filed a DIP motion seeking interim approval of a $293.75 million senior secured, superpriority delayed-draw term loan facility, including $150 million of new-money commitments and a $143.75 million roll-up of prepetition FLFO/FLSO term loan claims that is subordinated to the new-money tranche.

TPI Composites, Inc. (Filed Aug. 11)

• Amended Advance Agreement Summary – Published Jan. 13
  • TPI Composites filed an emergency motion to authorize an amended advance agreement with Vestas Wind Systems that provides near-term liquidity and establishes terms for a free and clear sale of certain inventory and materials satisfied by a credit of advances, while granting Vestas exclusivity regarding a potential acquisition of certain Mexican and Indian assets for which Vestas previously submitted a qualified bid.

Food52, Inc. (Filed Dec. 29)

• Bidding Procedures Summary – Published Jan. 13
  • Food52 obtained approval of bidding procedures to sell substantially all assets, designating F52 as the stalking horse bidder with a $6.5 million offer and rights to credit bid secured obligations ahead of a Feb. 3 bid deadline and Feb. 5 auction.

Ample, Inc. (Filed Dec. 16)

• DIP Terms – Published Jan. 13
  • Ample obtained final approval for a $6 million super-priority DIP facility from Twelve Bridge Capital that carries a 3.9% commitment fee and 1.75% exit fee, and authorizes the lender to credit bid up to the full amount of its DIP obligations.
• Bidding Procedures Summary – Published Jan. 13
  • Ample obtained approval of bidding procedures to sell substantially all assets, authorizing the designation of a stalking horse bidder by Feb. 13 ahead of a March 2 bid deadline and March 4 auction, with qualified bids required to satisfy DIP obligations in full in cash absent consent from Twelve Bridge Capital, which retains the right to credit bid.

Luminar Technologies, Inc. (Filed Dec. 15)

• APA Summary – Published Jan. 12
  • Luminar Technologies filed a notice designating Quantum Computing Inc. as the stalking horse bidder for its LiDAR assets pursuant to a $22 million asset purchase agreement, with the bid subject to a $660,000 break-up fee ahead of a Jan. 12 bid deadline and Jan. 15 auction.

Office Properties Income Trust (Filed Oct. 30)

• Plan / RSA Terms – Published Jan. 12
  • Office Properties Income Trust reached an RSA with Consenting Creditors holding ~90% of its September 2029 senior secured notes, supported by a $125 million DIP and a plan featuring up to $420 million of secured exit notes (with an equity election), two equity rights offerings for certain unsecured creditors, and amended RMR management agreements with a five-year initial term.

Dynacq Healthcare, Inc. (Filed Dec. 8)

• DIP Terms – Published Jan. 9
  • Dynacq Healthcare obtained final approval for a $5 million super-priority multi-draw DIP facility administered by Caliburn Capital, split between a $2 million interim draw and a $3 million final tranche, carrying 15% interest and a 5% commitment fee to fund working capital and a section 363 sale process.

Oroville Hospital (Filed Dec. 8)

• Bidding Procedures Summary – Published Jan. 9
  • Oroville Hospital filed a motion to establish bidding procedures for a sale of substantially all assets, proposing a March 11 stalking horse deadline and April 24 bid deadline ahead of an April 28 auction, while seeking authority to designate a stalking horse bidder with bid protections.

American Signature, Inc. (Filed Nov. 22)

• DIP Terms – Published Jan. 9
  • American Signature secured final approval for a $50 million asset-based DIP facility administered by Second Avenue Capital Partners, which structures a full cashless roll-up of prepetition ABL obligations and funds a rapid sale process requiring consummation by February 6, 2026.

First Brands Group, LLC (Filed Sep. 28)

• Bidding Procedures Summary – Published Jan. 9
  • First Brands Group filed an emergency motion to establish bidding procedures for a sale of substantially all assets, including its brakes, filters, and wipers business units, seeking authorization to designate a stalking horse bidder ahead of a Jan. 30 bid deadline and Feb. 9 auction.

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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