8-K filed September 25, 2023, 7:59 PM ET CIK 0001652724

other material confidence high sentiment negative materiality 0.95

Lucira Health, Inc.: going-concern / distress — Bankruptcy court confirms Lucira Health's Chapter 11 liquidation plan; equity cancelled

Lucira Health, Inc.

Confirmation Order entered Sept 19, 2023; all 41,763,433 common shares will be cancelled on Effective Date.
Pfizer purchased substantially all assets in April 2023; proceeds go to a liquidating trust for allowed claims.
Brian Ryniker appointed Liquidating Trustee; CEO, CFO, and one director resign on Effective Date.
Holders of equity interests receive no distribution under the liquidation plan.
Company holds ~$565k employee retention credit claim; August 2023 monthly operating report filed.

item 1.03 item 8.01 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.

Departed

Michael Wyse

member of the Board of Directors

Lucira Health, Inc.

Filed: September 25, 2023, 7:59 PM ET

Pursuant to the terms of the Chapter 11 Plan, on the Effective Date, Brian Ryniker will be appointed as the Liquidating Trustee and representative of the Debtor’s Estate, and Erik T. Engelson, President, Chief Executive Officer and member of the Company’s Board of Directors (the “Board”), Michael Wyse, member of the Board, and Richard Narido, Chief Financial Officer, will each be deemed to have resigned from their respective positions as directors and officers of the Company.

Departed

Erik T. Engelson

President, Chief Executive Officer and member of the Board of Directors

Lucira Health, Inc.

Filed: September 25, 2023, 7:59 PM ET

Pursuant to the terms of the Chapter 11 Plan, on the Effective Date, Brian Ryniker will be appointed as the Liquidating Trustee and representative of the Debtor’s Estate, and Erik T. Engelson, President, Chief Executive Officer and member of the Company’s Board of Directors (the “Board”), Michael Wyse, member of the Board, and Richard Narido, Chief Financial Officer, will each be deemed to have resigned from their respective positions as directors and officers of the Company.

Appointed

Brian Ryniker

Liquidating Trustee

Lucira Health, Inc.

Filed: September 25, 2023, 7:59 PM ET

Pursuant to the terms of the Chapter 11 Plan, on the Effective Date, Brian Ryniker will be appointed as the Liquidating Trustee and representative of the Debtor’s Estate, and Erik T. Engelson, President, Chief Executive Officer and member of the Company’s Board of Directors (the “Board”), Michael Wyse, member of the Board, and Richard Narido, Chief Financial Officer, will each be deemed to have resigned from their respective positions as directors and officers of the Company.

Departed

Richard Narido

Chief Financial Officer

Lucira Health, Inc.

Filed: September 25, 2023, 7:59 PM ET

Pursuant to the terms of the Chapter 11 Plan, on the Effective Date, Brian Ryniker will be appointed as the Liquidating Trustee and representative of the Debtor’s Estate, and Erik T. Engelson, President, Chief Executive Officer and member of the Company’s Board of Directors (the “Board”), Michael Wyse, member of the Board, and Richard Narido, Chief Financial Officer, will each be deemed to have resigned from their respective positions as directors and officers 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

Lucira Health, Inc. entered chapter 11 in United States Bankruptcy Court for the District of Delaware (petition 2023-02-22).

Proceeding: chapter 11
Court: United States Bankruptcy Court for the District of Delaware
Petition: 2023-02-22

Exact text from the filing

On February 22, 2023, Lucira Health, Inc. (the “Company” or the “Debtor”) filed a voluntary petition (Case No. 23-10242) for relief under Chapter 11 of title 11 the United States Bankruptcy Code

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Michael Wyse resigned as member of the Board of Directors at Lucira Health, Inc..

Action: resigned
Role: member of the Board of Directors

Exact text from the filing

Pursuant to the terms of the Chapter 11 Plan, on the Effective Date, Brian Ryniker will be appointed as the Liquidating Trustee and representative of the Debtor’s Estate, and Erik T. Engelson, President, Chief Executive Officer and member of the Company’s Board of Directors (the “Board”), Michael Wyse, member of the Board, and Richard Narido, Chief Financial Officer, will each be deemed to have resigned from their respective positions as directors and officers of the Company.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Erik T. Engelson resigned as President, Chief Executive Officer and member of the Board of Directors at Lucira Health, Inc..

Action: resigned
Role: President, Chief Executive Officer and member of the Board of Directors

Exact text from the filing

Pursuant to the terms of the Chapter 11 Plan, on the Effective Date, Brian Ryniker will be appointed as the Liquidating Trustee and representative of the Debtor’s Estate, and Erik T. Engelson, President, Chief Executive Officer and member of the Company’s Board of Directors (the “Board”), Michael Wyse, member of the Board, and Richard Narido, Chief Financial Officer, will each be deemed to have resigned from their respective positions as directors and officers of the Company.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Brian Ryniker was appointed as Liquidating Trustee at Lucira Health, Inc..

Action: appointed
Role: Liquidating Trustee

Exact text from the filing

Pursuant to the terms of the Chapter 11 Plan, on the Effective Date, Brian Ryniker will be appointed as the Liquidating Trustee and representative of the Debtor’s Estate, and Erik T. Engelson, President, Chief Executive Officer and member of the Company’s Board of Directors (the “Board”), Michael Wyse, member of the Board, and Richard Narido, Chief Financial Officer, will each be deemed to have resigned from their respective positions as directors and officers of the Company.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Richard Narido resigned as Chief Financial Officer at Lucira Health, Inc..

Action: resigned
Role: Chief Financial Officer

Exact text from the filing

Pursuant to the terms of the Chapter 11 Plan, on the Effective Date, Brian Ryniker will be appointed as the Liquidating Trustee and representative of the Debtor’s Estate, and Erik T. Engelson, President, Chief Executive Officer and member of the Company’s Board of Directors (the “Board”), Michael Wyse, member of the Board, and Richard Narido, Chief Financial Officer, will each be deemed to have resigned from their respective positions as directors and officers of the Company.

View on SEC.gov

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Source: SEC EDGAR

accession 0001193125-23-241312

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