Gritstone bio, Inc.: going-concern / distress — Gritstone bio exits Chapter 11; all common stock cancelled, creditors receive new equity

Gritstone bio, Inc.

Bankruptcy Court confirmed Second Modified Plan of Reorganization on April 3, 2025; effective April 4, 2025.
All outstanding shares of common stock, options, and warrants cancelled; holders receive no recovery.
Debt-to-equity conversion gives DIP lenders new equity in reorganized company; general unsecured creditors get liquidating trust distributions.
Directors resigned effective upon plan effectiveness; company emerged with restructured balance sheet.
Company filed to deregister securities under Exchange Act; stock now trades on OTC Pink under symbol GRTSQ.

item 1.03 item 3.02 item 3.03 item 5.01 item 5.02 item 8.01 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

Gritstone bio, Inc. entered chapter 11 in United States Bankruptcy Court for the District of Delaware (petition 2024-10-10).

Proceeding: chapter 11
Court: United States Bankruptcy Court for the District of Delaware
Petition: 2024-10-10

Exact text from the filing

As previously reported, on October 10, 2024, Gritstone bio, Inc. (the “ Company ”) filed a voluntary petition for relief under Chapter 11 of Title 11 of the United States Code (the “ Bankruptcy Code ”) in the United States Bankruptcy Court for the District of Delaware (the “ Bankruptcy Court ”), thereby commencing a Chapter 11 case for the Company (the “ Chapter 11 Case ”).

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Source: SEC EDGAR

accession 0001193125-25-073396

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