secwatch.observer — SEC 8-K summary
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Issuer:     PhaseBio Pharmaceuticals Inc (—)
CIK:        0001169245
Form:       8-K
Filed at:   2024-07-12T23:59:59+00:00
Accession:  0001193125-24-178615
Event type: other_material
Sentiment:  negative
Materiality: 0.90
Item codes: 1.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PhaseBio Chapter 11 plan confirmed; creditors ~1.6% recovery, equity zero
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- Bankruptcy Court confirmed liquidation plan on June 26, 2024; all assets to Liquidation Trust.
- General unsecured creditors expected ~1.6% recovery; equity holders expected no recovery.
- All ~50.2M shares of common stock to be canceled on Effective Date of the Plan.
- Company reported assets ~$2.7M and liabilities ~$41.9M in May 2024 operating report.
- Plan includes releases for officers, directors, and certain service providers from claims.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1169245/000119312524178615/0001193125-24-178615-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1169245/000119312524178615/d854608d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-178615

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