secwatch.observer — SEC 8-K summary
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Issuer:     Boxed, Inc. (—)
CIK:        0001828672
Form:       8-K
Filed at:   2023-04-03T23:59:59+00:00
Accession:  0001140361-23-015648
Event type: other_material
Sentiment:  negative
Materiality: 1.00
Item codes: 1.03, 2.04, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Boxed files Chapter 11, plans to sell Spresso software business and wind down retail operations
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- Filed voluntary Chapter 11 petitions on April 2, 2023 (Case Nos. 23-10397 to 23-10401).
- Negotiating sale of substantially all Spresso assets to first lien lender; expects asset purchase agreement.
- Began winding down retail operations on March 30; expects to fully cease Dallas and Las Vegas fulfillment by April 3.
- Chapter 11 filing accelerated obligations under First Lien, Second Lien, and Convertible Note debt instruments.
- Warns common stock holders may receive no recovery; trading is highly speculative.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1828672/000114036123015648/0001140361-23-015648-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1828672/000114036123015648/brhc10050838_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-23-015648

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