{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-24-058473","form_type":"8-K","ticker":null,"cik":"0001934064","company_name":"ProSomnus, Inc.","filed_at":"2024-05-08T23:59:59+00:00","discovered_at":"2026-05-14T18:03:21.245598+00:00","generated_at":"2026-06-02T13:55:15.518330+00:00","sec_items":["1.01","1.03","2.03","2.04","7.01","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":1.0,"calibrated_materiality_score":1.0,"confidence":"high","headline":"ProSomnus files Chapter 11, expects equity holders to receive no recovery under pre-negotiated plan","bullets":["Filed voluntary Chapter 11 petitions on May 7, 2024 to implement pre-negotiated restructuring plan.","Restructuring Support Agreement provides up to $20M in new capital, including $7M DIP loans and $9M equity raise.","Existing debt of $41.7M principal and $856K interest accelerated; payments stayed by bankruptcy.","Equity holders expected to receive no recovery; common stock now trades OTC under symbol OSAP.","Plan confirmation expected within 90 days; DIP facility due Nov 7, 2024 at prime plus 9% interest."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-24-058473","json":"https://secwatch.observer/filing/0001104659-24-058473.json","markdown":"https://secwatch.observer/filing/0001104659-24-058473.md","text":"https://secwatch.observer/filing/0001104659-24-058473.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1934064/000110465924058473/0001104659-24-058473-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1934064/000110465924058473/tm2413824d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-02T13:55:15.518330+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":"23e6817b3f9b8d3ec717695132902f3c6deafc8c","claim":"ProSomnus, Inc. incurred credit facility of $13 million with Wilmington Savings Fund Society, F.S.B., as administrative agent and collateral agent maturing November 7, 2024.","evidence_excerpt":"the DIP Lenders have agreed, upon the terms and conditions set forth therein, including the approval of the Court, to make available to the Company a senior subordinate secured debtor-in-possession term loan credit facility in the aggregate principal amount of $13 million","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1934064/000110465924058473/0001104659-24-058473-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Principal","value":"$13 million"},{"label":"Counterparty","value":"Wilmington Savings Fund Society, F.S.B., as administrative agent and collateral agent"},{"label":"Maturity","value":"November 7, 2024"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"b2bf220c0659a02cabc150bafd4b80599e015593","claim":"ProSomnus, Inc. faced acceleration on senior notes of $41,669,228.","evidence_excerpt":"the principal and interest due under the Indentures shall automatically become due and payable. The outstanding principal about due under the Indentures is, in the aggregate, $41,669,228, and the outstanding interest as of May 7, 2024 is $856,254. Any efforts to enforce such payment obligations under the Indentures are automatically stayed as a result of the","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1934064/000110465924058473/0001104659-24-058473-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"senior notes"},{"label":"Principal","value":"$41,669,228"},{"label":"Event","value":"acceleration"}],"fact_type":"debt_financing"},{"claim_id":"43fb1ec334196d180fcae841a6621358a28faa60","claim":"ProSomnus, Inc. entered chapter 11 in United States Bankruptcy Court for the District of Delaware.","evidence_excerpt":"On May 7 , 2024, the Company Parties filed voluntary petitions for relief under chapter 11 of title 11 of the Code (the \"Petitions\") in the Court to pursue the Plan.","evidence_source":"SEC 8-K Item 1.03","evidence_url":"https://www.sec.gov/Archives/edgar/data/1934064/000110465924058473/0001104659-24-058473-index.htm","confidence":0.99,"family_label":"Distress & Bankruptcy","details":[{"label":"Proceeding","value":"chapter 11"},{"label":"Court","value":"United States Bankruptcy Court for the District of Delaware"}],"fact_type":"distress_event"},{"claim_id":"6f0c26f65b49a5a5e134d981738e87298c14c328","claim":"ProSomnus, Inc. entered into Restructuring Support Agreement with Sponsoring Noteholders valued at $20.0 million (effective 2024-05-07).","evidence_excerpt":"On May 7, 2024, ProSomnus, Inc. (the “Company”) voluntarily entered into a Restructuring Support Agreement (including all exhibits thereto, collectively, the “RSA”) with (i) certain of its existing affiliates and subsidiaries (as set forth in the RSA, and together with the Company, the “Company Parties”); and (ii) certain sponsoring Senior Noteholders and Subordinated Noteholders (the “Sponsoring Noteholders”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1934064/000110465924058473/0001104659-24-058473-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Sponsoring Noteholders"},{"label":"Value","value":"$20.0 million"},{"label":"Effective","value":"2024-05-07"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}