--- schema_version: "secwatch.filing_event.v1" accession: "0000930413-23-001864" form_type: "8-K" ticker: null cik: "0001551986" company_name: "9 METERS BIOPHARMA, INC." filed_at: "2023-07-18T23:59:59+00:00" generated_at: "2026-06-13T07:00:39.292717+00:00" event_type: "other_material" sentiment: "negative" materiality_score: 1.0 calibrated_materiality_score: 1.0 confidence: "high" source: SEC EDGAR --- # 9 Meters Biopharma files Chapter 7 bankruptcy, ceases operations, Nasdaq delisting July 26 ## Summary - Filed Chapter 7 bankruptcy petition on July 17, 2023; Chapter 7 trustee appointed to liquidate assets. - All operations ceased; all officers (including interim CEO/CFO Bethany Sensenig) and board members resigned effective immediately. - Nasdaq notified delisting; trading suspended at opening on July 26, 2023; company will not appeal. - Bankruptcy triggered defaults on all debt; partial acceleration of $1.08M paid to High Trail Special Situations, $1.6M remains outstanding. - Forbearance agreement terminated upon bankruptcy filing; no further operations or employees. ## SEC filing metadata - accession: 0000930413-23-001864 - form_type: 8-K - cik: 0001551986 - company_name: 9 METERS BIOPHARMA, INC. - filed_at: 2023-07-18T23:59:59+00:00 - event_type: other_material - sentiment: negative - materiality_score: 1.0 - calibrated_materiality_score: 1.0 - confidence: high - sec_items: 1.01, 2.04, 1.03, 3.01, 5.02, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1551986/000093041323001864/0000930413-23-001864-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1551986/000093041323001864/c106716_8k-ixbrl.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0000930413-23-001864 - JSON: https://secwatch.observer/filing/0000930413-23-001864.json - Plain text: https://secwatch.observer/filing/0000930413-23-001864.txt ## Key facts - Debt Financings 9 METERS BIOPHARMA, INC. reported a default on convertible notes of approximately $1.6 million outstanding under the Note with existing holder (the "Holder"). - Instrument: convertible notes - Principal: approximately $1.6 million outstanding under the Note - Counterparty: existing holder (the "Holder") - Event: default source text: to enter into the Amendment, the Company agreed to a partial acceleration payment of approximately $1.08 million in cash from the Note reserve account, leaving approximately $1.6 million outstanding under the Note. However, under the terms of the Forbearance Agreement and the Note, the Extended Forbearance Period was terminated upon the Bankruptcy Filing. Except evidence_url: https://www.sec.gov/Archives/edgar/data/1551986/000093041323001864/0000930413-23-001864-index.htm - Distress & Bankruptcy 9 METERS BIOPHARMA, INC. entered chapter 7 in United States Bankruptcy Court for the Eastern District of North Carolina (petition 2023-07-17). - Proceeding: chapter 7 - Court: United States Bankruptcy Court for the Eastern District of North Carolina - Petition: 2023-07-17 source text: On July 17, 2023, after considering all strategic alternatives, 9 Meters Biopharma, Inc. (the “Company”), together with its subsidiaries, ceased operations and filed a voluntary petition for relief under provisions of Chapter 7 of Title 11 of the United States Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the Eastern District of North Carolina Case No. 23-01992-5-PWM (the “Bankruptcy Filing”). evidence_url: https://www.sec.gov/Archives/edgar/data/1551986/000093041323001864/0000930413-23-001864-index.htm - Listing & Compliance Notices 9 METERS BIOPHARMA, INC. received a nasdaq delisting notice notice regarding other (rules 5101, 5110(b), IM-5101-1, 5550(b)(1), 5550(a)(2)). - Exchange: nasdaq - Notice: delisting notice - Rules: 5101, 5110(b), IM-5101-1, 5550(b)(1), 5550(a)(2) source text: July 17, 2023, the Company entered the Bankruptcy Filing and the associated public interest concerns raised by such filing; (ii) concerns regarding the residual equity interest of the existing listed securities holders; and (iii) concerns about the Company’s ability to sustain compliance with all requirements for continued listing on Nasdaq, including the Company’s failure to comply with (a) the minimum $2,500,000 stockholders’ equity requirement under Listing Rule 5550(b)(1) and (b) the minimum bid price requirement under Listing Rule 5550(a)(2), pursuant to the notice received by the Company evidence_url: https://www.sec.gov/Archives/edgar/data/1551986/000093041323001864/0000930413-23-001864-index.htm - Executive change Michael Constantino resigned as Director at 9 METERS BIOPHARMA, INC.. - Action: resigned - Role: Director source text: Concurrent with the Bankruptcy Filing, on July 17, 2023, directors Mark Sirgo (Chair), Michael Constantino, Lorin Johnson, Michael Rice and Samantha Ventimiglia resigned as members of the Company’s Board of Directors. evidence_url: https://www.sec.gov/Archives/edgar/data/1551986/000093041323001864/0000930413-23-001864-index.htm - Executive change Michael Rice resigned as Director at 9 METERS BIOPHARMA, INC.. - Action: resigned - Role: Director source text: Concurrent with the Bankruptcy Filing, on July 17, 2023, directors Mark Sirgo (Chair), Michael Constantino, Lorin Johnson, Michael Rice and Samantha Ventimiglia resigned as members of the Company’s Board of Directors. evidence_url: https://www.sec.gov/Archives/edgar/data/1551986/000093041323001864/0000930413-23-001864-index.htm - Executive change Mark Sirgo resigned as Chair of the Board of Directors at 9 METERS BIOPHARMA, INC.. - Action: resigned - Role: Chair of the Board of Directors source text: Concurrent with the Bankruptcy Filing, on July 17, 2023, directors Mark Sirgo (Chair), Michael Constantino, Lorin Johnson, Michael Rice and Samantha Ventimiglia resigned as members of the Company’s Board of Directors. evidence_url: https://www.sec.gov/Archives/edgar/data/1551986/000093041323001864/0000930413-23-001864-index.htm - Executive change Samantha Ventimiglia resigned as Director at 9 METERS BIOPHARMA, INC.. - Action: resigned - Role: Director source text: Concurrent with the Bankruptcy Filing, on July 17, 2023, directors Mark Sirgo (Chair), Michael Constantino, Lorin Johnson, Michael Rice and Samantha Ventimiglia resigned as members of the Company’s Board of Directors. evidence_url: https://www.sec.gov/Archives/edgar/data/1551986/000093041323001864/0000930413-23-001864-index.htm - Executive change Bethany Sensenig resigned as Interim Chief Executive Officer and Chief Financial Officer at 9 METERS BIOPHARMA, INC.. - Action: resigned - Role: Interim Chief Executive Officer and Chief Financial Officer source text: Concurrent with the Bankruptcy Filing, on July 17, 2023, Bethany Sensenig, Interim Chief Executive Officer and Chief Financial Officer, tendered her resignation, effective July 17, 2023. evidence_url: https://www.sec.gov/Archives/edgar/data/1551986/000093041323001864/0000930413-23-001864-index.htm - Executive change Lorin Johnson resigned as Director at 9 METERS BIOPHARMA, INC.. - Action: resigned - Role: Director source text: Concurrent with the Bankruptcy Filing, on July 17, 2023, directors Mark Sirgo (Chair), Michael Constantino, Lorin Johnson, Michael Rice and Samantha Ventimiglia resigned as members of the Company’s Board of Directors. evidence_url: https://www.sec.gov/Archives/edgar/data/1551986/000093041323001864/0000930413-23-001864-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.