secwatch.observer — SEC 8-K summary
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Issuer:     Keenova Therapeutics plc (—)
CIK:        0001567892
Form:       8-K
Filed at:   2023-06-15T23:59:59+00:00
Accession:  0001104659-23-071379
Event type: other_material
Sentiment:  negative
Materiality: 0.85
Item codes: 2.04, 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Mallinckrodt skips interest on $1.025B notes, warns of possible Chapter 11
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- Missed $650M 11.5% First Lien and $375M 10.0% Second Lien note interest due June 15, 2023.
- Non-payment triggers 30-day grace period; event of default could accelerate all principal and interest.
- Cross-default risk on first lien term loans and opioid settlement obligations if default not cured.
- Board continues evaluating alternatives including Chapter 11 filing; no definitive decision made.
- Made $16.5M payment to DOJ under Acthar Gel settlement despite liquidity constraints.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1567892/000110465923071379/0001104659-23-071379-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1567892/000110465923071379/tm2318768d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-071379

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