{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-23-055287","form_type":"8-K","ticker":null,"cik":"0000057725","company_name":"LANNETT CO INC","filed_at":"2023-05-03T23:59:59+00:00","discovered_at":"2026-05-14T18:03:41.906854+00:00","generated_at":"2026-06-16T01:52:50.576744+00:00","sec_items":["1.03","2.04","7.01","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":1.0,"calibrated_materiality_score":1.0,"confidence":"high","headline":"Lannett files prepackaged Chapter 11 to eliminate ~$597M debt; equity holders get no recovery","bullets":["Filed prepackaged Chapter 11 cases on May 2, 2023 to restructure $597M of funded debt.","Plan eliminates $511M secured debt; convertible notes and existing equity will receive no recovery.","Supported by >80% of senior secured noteholders and 100% of second lien term loan holders.","Expects to emerge from Chapter 11 within 45 days; operations continue as debtors-in-possession.","Trade claims paid in ordinary course; sufficient liquidity to operate business."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-23-055287","json":"https://secwatch.observer/filing/0001104659-23-055287.json","markdown":"https://secwatch.observer/filing/0001104659-23-055287.md","text":"https://secwatch.observer/filing/0001104659-23-055287.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/57725/000110465923055287/0001104659-23-055287-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/57725/000110465923055287/tm2314233d3_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-16T01:52:50.576744+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"d8bc704f2ce012d844367c2958eae196986f0791","claim":"LANNETT CO INC faced acceleration on debt with Wilmington Trust, National Association, as trustee; Alter Domus (US) LLC, as administrative agent and collateral agent; Wells Fargo Bank, National Association, as administrative agent and as collateral agent.","evidence_excerpt":"The filing of the Chapter 11 Cases described above in Item 1.03 constituted an event of default that accelerated the Company Parties’ respective obligations under the following debt instruments (collectively, the “Debt Instruments”):","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/57725/000110465923055287/0001104659-23-055287-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Counterparty","value":"Wilmington Trust, National Association, as trustee; Alter Domus (US) LLC, as administrative agent and collateral agent; Wells Fargo Bank, National Association, as administrative agent and as collateral agent"},{"label":"Event","value":"acceleration"}],"fact_type":"debt_financing"},{"claim_id":"268a52c98e5256efd854cd9b9a7d596f38a49e80","claim":"LANNETT CO INC entered chapter 11 in United States Bankruptcy Court for the District of Delaware (petition 2023-05-02).","evidence_excerpt":"on May 2, 2023 (the “Petition Date”), the Company Parties filed the Chapter 11 Cases in the United States Bankruptcy Court for the District of Delaware","evidence_source":"SEC 8-K Item 1.03","evidence_url":"https://www.sec.gov/Archives/edgar/data/57725/000110465923055287/0001104659-23-055287-index.htm","confidence":0.9,"family_label":"Distress & Bankruptcy","details":[{"label":"Proceeding","value":"chapter 11"},{"label":"Court","value":"United States Bankruptcy Court for the District of Delaware"},{"label":"Petition","value":"2023-05-02"}],"fact_type":"distress_event"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}