PLx Pharma Winddown Corp.: going-concern / distress — PLx Pharma files Chapter 11, enters stalking horse asset sale agreement with Greenwood Brands

PLx Pharma Winddown Corp.

Filed voluntary Chapter 11 petitions in Delaware (Case Nos. 23-10456 and 23-10457) on April 13, 2023.
Stalking horse asset purchase agreement with PLx Acquisition Company LLC (Greenwood Brands) to sell substantially all assets.
Sale subject to Bankruptcy Court approval, higher bids, and other conditions; equity holders likely receive no recovery.
Common stock began trading on OTC Pink under symbol PLXP on April 13, 2023.

Key facts

Extracted from this filing and checked against the source text.

Distress & Bankruptcy SEC 8-K Item 1.03 confidence 0.9

PLx Pharma Winddown Corp. entered chapter 11 in United States Bankruptcy Court for the District of Delaware (petition 2023-04-13).

Proceeding: chapter 11
Court: United States Bankruptcy Court for the District of Delaware
Petition: 2023-04-13

Exact text from the filing

On April 13, 2023, PLx Pharma Inc. (the “Company”) and its wholly-owned subsidiary, PLx Opco Inc. (together with the Company, the “Debtors”), filed voluntary petitions (Case Nos. 23-10456 and 23-10457) (the “Chapter 11 Cases”) for relief under Chapter 11 of title 11 of the United States Bankruptcy Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”).

View on SEC.gov

Browse all distress & bankruptcy →

Source: SEC EDGAR

accession 0001193805-23-000557

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.