IronNet, Inc.: going-concern / distress — IronNet's Chapter 11 plan confirmed; existing common stock to be cancelled

IronNet, Inc.

Bankruptcy Court confirmed Chapter 11 plan on January 18, 2024.
All 121.5 million shares of existing common stock to be cancelled on effective date.
New common equity to be issued to DIP, secured note, and unsecured note claimants.
Exit facility lenders committed to provide credit facilities for reorganized debtors.
Plan eliminates material debt and provides working capital for ongoing operations.

item 1.03 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Distress & Bankruptcy SEC 8-K Item 1.03 confidence 0.9

IronNet, Inc. entered chapter 11 in United States Bankruptcy Court for the District of Delaware (petition 2023-10-12).

Proceeding: chapter 11
Court: United States Bankruptcy Court for the District of Delaware
Petition: 2023-10-12

Exact text from the filing

filed voluntary petitions for reorganization under Chapter 11 of the United States Bankruptcy Code

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Source: SEC EDGAR

accession 0001193125-24-010645

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