Gritstone bio, Inc.: going-concern / distress — Gritstone bio files Chapter 11, obtains $25M DIP financing from Future Solution Investments

Gritstone bio, Inc.

Company commenced Chapter 11 case in Delaware Bankruptcy Court on Nov 13, 2024.
DIP facility provides up to $25M in superpriority senior secured delayed-draw term loans.
Proceeds used for bankruptcy-related fees and operating expenses per approved budget.
Common stock delisted from Nasdaq on Oct 22, 2024 and now trades OTC Pink under GRTSQ.

item 1.01 item 1.03 item 2.03 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

Gritstone bio, Inc. entered chapter 11 in United States Bankruptcy Court for the District of Delaware.

Proceeding: chapter 11
Court: United States Bankruptcy Court for the District of Delaware

Exact text from the filing

the case commenced (the “Chapter 11 Case”) by the Company under Chapter 11 of Title 11 of the United States Code in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”)

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Source: SEC EDGAR

accession 0001193125-24-259815

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