Extracted from this filing and checked against the source text.
Distress & Bankruptcy
SEC 8-K Item 1.03
confidence 0.9
YIELD10 BIOSCIENCE, INC. entered chapter 11 in United States Bankruptcy Court for the District of Delaware (petition 2024-12-06).
- Proceeding
- chapter 11
- Court
- United States Bankruptcy Court for the District of Delaware
- Petition
- 2024-12-06
Exact text from the filing
On December 6, 2024, Yield10 Bioscience, Inc. ("Yield10" or the “Company”) and its two wholly owned subsidiaries, Yield10 Bioscience Securities Corp. and Yield10 Oilseeds Inc., filed a voluntary petition for relief under Chapter 11 of Title 11 (“Chapter 11”) of the United States Bankruptcy Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”), thereby commencing a Chapter 11 case for the Company (Case No. 24-12752, Case No. 24-12753 and Case No. 24-12755).
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Restructurings & Charges
SEC 8-K Item 2.05/2.06
confidence 0.9
YIELD10 BIOSCIENCE, INC. announced a restructuring affecting wind down of operations (reduced the Company's workforce to three (3) remaining part-time employees).
- Type
- restructuring
- Affected area
- wind down of operations
- Headcount
- reduced the Company's workforce to three (3) remaining part-time employees
Exact text from the filing
On November 20, 2024, the board of directors of Yield10 approved the Company’s wind down of operations and corresponding reduction in workforce, designed to reduce costs and reallocate resources while maintaining the minimum personnel needed to support the Company’s operations and sale of its assets. The restructuring reduced the Company’s workforce to three (3) remaining part-time employees, including its President and CEO, Vice President – Finance and Chief Accounting Officer and its Controller.
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