secwatch.observer — SEC 8-K summary
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Issuer:     ProSomnus, Inc. (—)
CIK:        0001934064
Form:       8-K
Filed at:   2024-07-31T23:59:59+00:00
Accession:  0001104659-24-084423
Event type: other_material
Sentiment:  negative
Materiality: 1.00
Item codes: 1.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Bankruptcy court confirms ProSomnus Chapter 11 plan; equity canceled with no recovery
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- Court entered Confirmation Order on July 30, 2024; Effective Date expected around Aug 5, 2024.
- Common stock (17.4M shares) and warrants (6.5M warrants) canceled with no distribution.
- Assets of $26.4M vs liabilities of $64.5M as of June 30, 2024 (unaudited).
- Company will file Form 15 to deregister securities and suspend SEC reporting obligations.
- Reorganized entity to issue new equity and $15.5M in new notes to certain creditors.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1934064/000110465924084423/0001104659-24-084423-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1934064/000110465924084423/tm2420568d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-084423

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer