Rockley Photonics Holdings Ltd: going-concern / distress — Rockley Photonics bankruptcy plan confirmed; liquidation and delisting planned

Rockley Photonics Holdings Ltd

Bankruptcy Court confirmed prepackaged Chapter 11 plan on March 10, 2023; effective March 14, 2023.
Company will liquidate under Cayman Islands law and file Form 15 to terminate SEC registration and reporting obligations.
CFO Chad Becker resigned effective March 17, 2023; CEO Richard Meier assumed duties as principal accounting and financial officer.
100% in amount and number of voting class holders voted to accept plan; existing equity holders receive no distribution.
The plan contemplates liquidation and dissolution; no ongoing business operations anticipated.

item 1.03 item 3.03 item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change

Richard Meier

Chief Executive Officer

Rockley Photonics Holdings Ltd

Effective: 2023-03-17
Filed: April 7, 2023, 7:59 PM ET

Richard Meier, our Chief Executive Officer, assumed the duties of the Company’s principal accounting officer and principal financial officer upon the effectiveness of Mr. Becker’s resignation.

Departed

Chad Becker

Chief Financial Officer

Rockley Photonics Holdings Ltd

Effective: 2023-03-17
Successor: Richard Meier
Filed: April 7, 2023, 7:59 PM ET

Effective March 17, 2023, Chad Becker resigned as Chief Financial Officer of the Company.

Key facts

Extracted from this filing and checked against the source text.

Distress & Bankruptcy SEC 8-K Item 1.03 confidence 0.9

Rockley Photonics Holdings Ltd entered chapter 11 in United States Bankruptcy Court for the Southern District of New York (petition 2023-01-23).

Proceeding: chapter 11
Court: United States Bankruptcy Court for the Southern District of New York
Petition: 2023-01-23

Exact text from the filing

Rockley Photonics Holdings Limited (the “ Company ”) filed a voluntary petition for relief under chapter 11 of title 11 of the United States Code in the United States Bankruptcy Court for the Southern District of New York

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Richard Meier changed role as Chief Executive Officer at Rockley Photonics Holdings Ltd.

Action: assumed
Role: Chief Executive Officer

Exact text from the filing

Richard Meier, our Chief Executive Officer, assumed the duties of the Company’s principal accounting officer and principal financial officer upon the effectiveness of Mr. Becker’s resignation.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Chad Becker resigned as Chief Financial Officer at Rockley Photonics Holdings Ltd.

Action: resigned
Role: Chief Financial Officer

Exact text from the filing

Effective March 17, 2023, Chad Becker resigned as Chief Financial Officer of the Company.

View on SEC.gov

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Source: SEC EDGAR

accession 0001193125-23-095208

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