secwatch.observer — SEC 8-K summary
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Issuer:     ZYNEX INC (—)
CIK:        0000846475
Form:       8-K
Filed at:   2025-12-16T23:59:59+00:00
Accession:  0001104659-25-121390
Event type: other_material
Sentiment:  negative
Materiality: 0.95
Item codes: 1.01, 1.03, 2.04, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Zynex files Chapter 11; $60M notes default; $22.3M DIP from lenders
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- Filed Chapter 11 petitions on Dec 15, 2025; $60M 5% convertible notes due 2026 triggered default.
- Restructuring support agreement with 80% of noteholders; $22.3M DIP facility at 10% interest.
- DIP lenders include CEO Steven Dyson ($2M) and noteholders; stalking horse bid set for asset sale.
- Milestones: bid deadline 75 days, auction 90 days, emergence 105 days post-petition.
- Company expects equity holders to experience significant loss; operations continue normally.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/846475/000110465925121390/0001104659-25-121390-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/846475/000110465925121390/zyxi-20251215x8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-121390

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