secwatch.observer — SEC 8-K summary
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Issuer:     Quotient Ltd (—)
CIK:        0001596946
Form:       8-K
Filed at:   2023-02-22T23:59:59+00:00
Accession:  0000950170-23-003480
Event type: other_material
Sentiment:  neutral
Materiality: 0.90
Item codes: 1.01, 1.03, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Quotient emerges from Chapter 11; reduces debt by ~$137M, issues $119.5M new notes
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- Bankruptcy court confirmed prepackaged plan on Feb 15, 2023; effective Feb 16, 2023.
- Funded indebtedness reduced by ~$137M from ~$256M to ~$119.5M in new 12% Senior Secured Notes due 2030.
- Consenting noteholders contributed $41M in new capital for 100% equity in Newco and the new notes.
- Board reduced to two members: CEO Manuel Méndez and new appointee Bradley Meyer; six prior directors resigned.
- General unsecured claims unimpaired; paid in ordinary course.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1596946/000095017023003480/0000950170-23-003480-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1596946/000095017023003480/qtnt_8k_consens_transact.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-003480

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