secwatch.observer — SEC 8-K summary
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Issuer:     Edgio, Inc. (—)
CIK:        0001391127
Form:       8-K
Filed at:   2024-09-09T23:59:59+00:00
Accession:  0001193125-24-215572
Event type: regulatory
Sentiment:  negative
Materiality: 0.95
Item codes: 1.01, 1.03, 2.03, 2.04, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Edgio files Chapter 11, stalking horse APA with Lynrock for $110M credit bid
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- Asset Purchase Agreement with Lynrock affiliate for $110M credit bid; Lynrock is stalking horse bidder.
- DIP financing of $15.6M from Lynrock approved to fund operations during Chapter 11.
- Automatic acceleration of ~$94.4M (Credit Agreement), $141M (Indenture), $9.2M (Priority Credit Agreement).
- Sale process expected to complete in about 80 days; common stock likely delisted and may have no recovery.
- Company expects holders of common stock will experience complete or significant loss on investment.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1391127/000119312524215572/0001193125-24-215572-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1391127/000119312524215572/d795614d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-215572

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