secwatch.observer — SEC 8-K summary
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Issuer:     Keenova Therapeutics plc (—)
CIK:        0001567892
Form:       8-K
Filed at:   2023-08-28T23:59:59+00:00
Accession:  0001104659-23-095504
Event type: other_material
Sentiment:  negative
Materiality: 1.00
Item codes: 1.03, 2.04, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Mallinckrodt files prepackaged Chapter 11 to cut $1.9B debt; expects Q4 2023 emergence
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- Filed prepackaged Chapter 11 on Aug 28, 2023, with support from >85% of first/second lien debtholders and opioid trust.
- Plan reduces total funded debt by ~$1.9B; expects to emerge in Q4 2023.
- Made final $250M payment to Opioid Master Disbursement Trust II on Aug 24, total $700M paid.
- Will have >$450M liquidity (cash, $250M new financing, ABL availability) during Chapter 11.
- Received grand jury subpoena from USAO Western Virginia on Aug 22 regarding controlled substance reporting.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1567892/000110465923095504/0001104659-23-095504-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1567892/000110465923095504/tm2324934d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-095504

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